Paint: Interior only (assuming new siding does not need to be painted)Appliances: So you would expect $2,000 for an appliance package (since this is a duplex I multiplied by 2)?

Full gut/rehab (3/2 SFR) 2020 2021 April Multiplier Materials* Materials % of job Multiplier Labor $ Increase 01: Plans / Permits Plans / Permits $ 5,000 $ 5,500 10% 0% 10% $ 500 02: Demolition $ 5,000 $ 5,500 10% 0% 10% $ 500 03: Foundation $ 20,000 $ 22,000 10% 50% 10% $ 2,000 04: Roof / Gutters $ 17,000 $ 18,870 12% 50% 10% $ 1,870 05a: Exterior Paint Exterior Paint $ 7,000 $ 7,700 10% 50% 10% $ 700 05b: Siding $ 5,000 $ 5,500 10% 50% 10% $ 500 06: Windows $ 5,000 $ 5,500 10% 50% 10% $ 500 07: Garage $ 5,000 $ 5,500 10% 50% 10% $ 500 07b: Driveway $ 5,000 $ 5,500 10% 50% 10% $ 500 08: Framing $ 5,000 $ 9,500 170% 50% 10% $ 4,500 09: Finish Carpentry $ 5,000 $ 9,500 170% 50% 10% $ 4,500 10: Sheetrock / Insulation $ 20,000 $ 22,000 10% 50% 10% $ 2,000 11: Interior Paint Interior Paint $ 7,000 $ 7,700 10% 50% 10% $ 700 12a: Flooring (laminate) Flooring (laminate) $ 5,000 $ 5,500 10% 50% 10% $ 500 12b: Flooring (carpet) Flooring (carpet) $ 5,000 $ 5,500 10% 50% 10% $ 500 13: Kitchen All new cabs & countertops $ 7,000 $ 9,940 170% 20% 10% $ 2,940 14: Bathroom $ 5,000 $ 5,500 10% 50% 10% $ 500 15a: Plumbing Rough $ 7,000 $ 7,700 10% 50% 10% $ 700 15b: Plumbing Final Fixtures, water heater, garbage disposal, dishwasher $ 2,500 $ 2,750 10% 50% 10% $ 250 16a: Electrical Rough $ 7,000 $ 8,400 30% 50% 10% $ 1,400 16b: Electrical Final Fixtures $ 2,500 $ 3,000 30% 50% 10% $ 500 17: HVAC Work $ 5,000 $ 5,500 10% 50% 10% $ 500 18: Appliances Range, Garbage disposal, dishwasher $ 4,000 $ 4,400 10% 0% 10% $ 400 19a: Yard Cleanup $ 2,000 $ 2,200 10% 50% 10% $ 200 19b: Fence $ 5,000 $ 9,500 170% 50% 10% $ 4,500 20: Basement / Crawlspace Vapor barrier $ 3,000 $ 3,300 10% 50% 10% $ 300 Contingency Stuff happens $ 5,000 $ 5,500 10% 50% 10% $ 500 trash haul Final trash load $ 500 $ 550 10% 0% 10% $ 50 mow lawn $ 500 $ 550 10% 0% 10% $ 50 Staging $ 3,000 $ 3,300 10% 0% 10% $ 300 $ 180,000 $ 213,360 $ 33,360 16% Does this make sense?

That's how you multiply wealth. 

That's how to come up with an offer quickly and easier without making a (bad) estimate of repair costs and multiplying by a percent, etc. 

Then multiply it by the assessed value and to be conservative, by the purchase price.

Hi Gabriel, In a general sense, the rentability of the units will be easier with a garage, but a garage will only generate about $5K-$10K in additional value each, whereas if you convert the 2 garages into a 1BR ADU, with market rent in Bay Ho, call it $1700 monthly and $20,400 annually, would increase the value by the multiplier of that income (call it 17GRM for Bay Ho), would increase the value from an income standpoint by $346,800. 

To determine the assessed value, multiply the taxable value of the home ($200,000) by the assessment ratio (35%): $200,000 X .35 = $70,000 assessed value.To calculate the tax, multiply the assessed value ($70,000) by the tax rate (.035): $70,000 x .035 = $2,450.00 tax for the fiscal year.If the home has already qualified for a 3% or 8% tax abatement, taxes will be figured on the assessed value from the base year it qualifed.

If the total comes out to be over 100% (again, stop laughing), then divide 100 by the percentage sum you got, and take that percentage and multiply each task by it. 

The really big money for rental units is earned starting within a year when you increase the rents even just a little because then your cashflow increases, but the really big money is when you multiply the increased rents times the Gross Multiplier.

Now multiply each of the sum totals for each partner by that number, and you have the end percentage each partner should be getting.The percentages are not just 50/50 because you have 2 partners.