Anyone that is eager, hungry and motivated will resonate well with a highly successful person.I do a variation of what you say but in reverse.

The legal definition of "incorporation" is the act of creating *any* business entity separate and apart from the individual owners, and even goes so far as to *include*; operational trusts, partnerships, corporations, Limited Liability Companies, Political Parties and any variations thereon.See:Black's Law Dictionaryhttp://dictionary.thelaw.com/incorporation/

If the floor has pet stains, handle it Nicole Curtis style and stain it dark and the dark spots will just look like a variation in the stain.Check the sub-floor.

. $800 gross rent = 40K max priceReduce price by major expenses, and to correct items above.There's some variation depending on the submarket, but this list would get someone started right.

For branding purposes, while I'm not a marketing specialist but does it matter if you use "properties" or any other of your variations? 

You have heard the phrase (or some variation) don’t get financial advice from your broke uncle.

For the valuation #1 approach, how do you account for a variation in unit mix?

Appreciation => Speculation, variation, marketing fluctuations and uncontrollable.Cash Flow => dripping faucet, straight into your bank account, month in, month out.I bought in '97 a cash flow with a DSCR of 1.15 on a MFU 6-unit (squeaked in). 

But everyone has slight variations on how they think about and decompose a problem, so you'll see a lot of people roll their own.That said, I like the visualizations that come with the BP calculators (not spreadsheet), although I don't personally use them for deal analysis.Hope that helps!

This is a variation on a question asked a couple of times in this thread.