REIT is still a paper derivative of real estate with no real upside and no tax breaks.

Once you itemize each repair on the property you need to allocate a price for labor and material for each item to create a detailed estimate for the project.Once you get more experience inspecting properties and estimating costs for your rehabs you can look back at your OWN COST HISTORY and derive your OWN RULES OF THUMB that you can use for quickly evaluating properties in the future.I would recommend getting The Book on Estimating Rehab Costs to help you learn the basics of estimating costs for your projects.

My goal is to try and buy as many side by side so when NE becomes the next Uptown, or some derivative of, I'm positioned to start building apartments.

@Audrey Truesdale - Your methods returns very similar numbers that i'm deriving.  

Organic rent growth is increases in rents which are not derived from renovating units and pushing rents, but rather are simply derived from increasing demand in the local market or year-over-year inflation factors driving prices up.

Local Investment in Infrastructure:  This is a derivative of #1 & #2.  

Who pays can vary based on whose property it sits on, is it on the property line, are your/your neighbors other fences physically connected to it, does your neighbor derive benefit from it, etc.

So the LLC prevents, provided no pierce of veil, liens and seizure of personal assets deriving from the assets inside the LLC.

There is nothing to be derived from reading my profile.Mine is empty, false or misleading to protect rather than promote my business interests.Aside from the actual content of my posts there is no way to assess my opinions.

I actually did use the multiple approach to derive the compressed equity amount I just wasn't aware that this way the way to this.