I'll do that.I totally estimated the rents by averaging twenty 2 bed/1 bath and twenty 1 bed/1 bath in Spokane and used those numbers ($840, $672 & $672).I see what you mean about the rent rates in Zillow.

@Glenn R. the high end rents all depend on the area, community, market etc... for example, I have a home in Windermere, Fl that is gated 5 bed, 5000+ sq. ft with a pool that is worth a million and rents for $5800, I also have one that is in the guard/ gated community of windermere/Isleworth that is a 2/2 furnished for $5000.

Do not allow your money to die a slow death as equity.How much of your own money is lying dead in the property now.

During my inspection I asked if it was possible to finish the attic into a master suite, making the unit 3 bed 2 bath and hopefully producing $1200-$1300 a month when I move out in a year.

Right now the rent on a typical 1 bed apt in Kent, just south of Seattle is over $1100/mo.

I think when we bought our student rental it cost about 800-900 bucks about three years ago - that was for a student 5 bed license.

There would be a total of 20 homes This would be a project to project basis building one home at a time.All homes would be in the same relative layout with about 4 different designs. 3 bed 2 bath, 1,500 square foot, cost us about $100k per home to build.

When I first saw the listing about a year ago it was listed as a triplex and listed the units and number of beds, but now it doesn't say anything like that The listing seems like a single family now. 

Unit 1:3 bed 1 bath/ rent $1065  Unit 2&3: 2 bed 1 bath/ rent $940Insurance $1600, taxes $6000Current lease has OWNER paying for water - $2900 ( would have to suck it up until the lease is over ) Condition of the house doesn't appear to be too bad and in my opinion these units are under rented but of course wont pay for what COULD be, just saying that if these numbers work at all there is a chance of improving them.Obviously want to factor Vacancy, Capex, repairs and property management.

We currently live in a small 3 bed apartment with our 3 kids, paying $1100 a month, we really need more space.