@Marcus AuerbachHey Marcus, my RE estate agent says it's worth around 600k based on the comps.

Does anyone have a "program" or formula to use to establish a reasonable list price based on current income and expenses.

For now, consult a CPA to determine the best structure based on your income and investment goals.This post does not create a CPA-Client relationship.

Hey @Aaron Ram, fellow Stamford-based investor here.

If it is a contractor that is more organized they will likely do this already, if they are shooting from the hip "based on experience" they will likely just give you a total $ value. 

I am located in Arizona and have been in manufacturing for 20+ years while my brother is an experienced contractor based in California. 

Based on your response I can give you some paths.  

If you're open to looking at some resources here's what I would recommend you start with based on what you've said:1.

Don't change jobs or income yet.Once you do and you think you can manage the payments based on your new income, maybe once you get the rooms rented.Then if you want to switch there are plenty of opportunities. 

For example, you could create a weighted structure where a percentage of profits is based on cash contributions, and another portion compensates for rehab or management efforts.Rent Payments and Tax-Free Profits:If you structure it as an owner-occupied property, the rent you pay could be shared proportionally, but tax-free gains on resale may only apply to your share, as you’d be the owner-occupant.