Spreadsheet template:TOP HALF OF PAGE:Addresses of comps - price - date - bed/bath - special feature(s) of house - conditionProperties listed here with dataMedian / Mean / Lowest / Highest chartCommentaryBOTTOM HALF OF PAGE:Left side, improvements since purchase bullet points.Right side, details about how/why you got the property for less than fair market value, again bullet points. 

It was thinking more along the lines of any potential development that may happen in my area.

This will help me determine what I will offer on the property.Some details, if they help:I will use the FHA loan for this.(3) 1-bed 1-bath units rented at 425 a month, 1 is vacant (for me).

Hey William,   after checking out your report,  if the property is in our area,  the monthly taxes is low or the assessment maybe low and will go up after you purchase,   and I didn't see a line item for insurance either,   you may have trouble getting a 30 year loan on a multifamily,  I'm sure its possible, we are closing on one this week,  20 year @ 5.25%.   

I rehabbed an old house that had a coal room lined with wooden panels.

I've established my line of credit, I already have an investing real estate agent in mind and I'm not afraid to personally do some of the work on these flips. 

It sounds like they cleaned/cleared out the line.

The property include 24 units.What is your experience with epoxy-lined piping?

Remember, you will generally write an inspection contingency into the offer, so make sure you have an inspector that you trust lined up.

Getting started, I created a spreadsheet of all properties sold and all rentals listed, along with the price, #beds, #baths, sq.ft., and general condition.