You take potential gross rent, less all those expenses to get net rent, then divide by the desired cap rate to get the max offer.

I market the letters and provide mutltiple means of getting back to me including a web site so the sell can do some research before reaching out to me if they so desire

These are generally going to be less desirable neighborhoods.

All of this assumes you have time and the desire to seek out your own investment properties.

People come here to learn about REI and people throw around subjective terms like A-F neighborhood ratings that's all a matter of opinion and no real standard.In commercial real estate there are class A-D properties and it is based on age and amenities and is not a measure of desirability, like it's often used around here to classify neighborhoods.

It all depends on your budget and desired quality.

I have a desire to learn how to Flip,Rehab and Sell property.  

So you would think we get hammered with taxes but I feel we pay our legal obligation but get virtually every write off we are entitled to.He is exactly what we desire in a tax man except for it would be nice if he did not cost as much but sometimes you get what you pay for. 

If you're looking to buy in the more desirable areas, you will probably require hard money/external financing.

The lot can be split if desired, but I think I would prefer to keep the whole lot and just build a second building for another unit to rent in the future.