Call a broker or appraiser and ask them what units are selling for in this market.They should know to give you an answer.Considering it’s 2-4 it would be appraised by CMA or $sqf approach, not the income approuch.How are you planing to found the purchase? 

Lets connect, I would be interested on how you approached the matter. 

@Andy Rousch Hey Andy, I think it also depends on the market(s) you are thinking of investing in as well as your approach to real estate investing. 

This area is historically not the nicest (in fact there are some ghetto areas) but a lot of money is being put back in throughout the area and his has brought serious investors back.

I’m looking to buy a 2 family in Schenectady NY that is in fair condition, 203k it to good condition, and owner occupy it while renting the bottom floor for a year or two then hold onto it and rent both units.This area is historically not the nicest (in fact there are some ghetto areas) but a lot of money is being put back in throughout the area and his has brought serious investors back.

I have set it up from 6-10% with private money but usually, even with family, I’ve brought money to the table as well.

Makes more sense.Anyone else approach it from a different angle?

You could even find a smaller 6-10 unit building and approach a local credit union {unless they have become really hungry, the commercial units of the Big-5 are not going to be interested in deals less than $1-2M in size}.

The best way to approach it is to start with the requirements to fully defer all tax - you must purchase at least as much as your net sale and use all of the proceeds. 

What is the best way to approach Landlords that may or maynot feel like they need a contractor for their property?