Hey Daniel, Did you include other expenses associated with the property such as repairs & maintenance, capital expenditures, property management, vacancy, taxes, insurance etc. within your analysis?

Higher end rent would require some repairs and rehab.Capex $285Maintenance $285Vacancy $190Insurance $110Water & Sewer $85Taxes $1042 ($12,500 per year).Structure of the property is in decent condition, no current leaks or issues found.Two leases are month to month as of this month, the one bedroom has a lease until august.Gas, heat, and electricity are all paid by the tenants individually.

The property is currently vacant and not in rent ready condition let alone market condition, it's going to need about 10k in repairs.

In Phoenix you won't be finding a lot of deals at 70% ARV minus repairs unless you're sourcing the deals yourself through door knocking, skip tracing owners, direct mail etc.

Thanks all for helping out as much as you did.Interestingly enough, I bumped into the owners and we had a somewhat awkward chat, looks like they're going to put the house not the market in the Spring--citing they wanted to do some additional repairs before testing the market.

The property is currently vacant and not in rent ready condition let alone market condition, it's going to need about 10k in repairs.

I know I need to figure the ARV, then subract the repairs, then subtract my desired profit.One of the problems I’m having is I don’t know what the ARV should be without bugging a realtor for each of hundreds of properties.

That's another opportunity to see how tenants take care of the place.Also, when you are at the property at the request of the tenant for maintenance and repair, or there working on the outside landscaping, it's another opportunity to see what's going on.3.

So I guess it's a BRRR without the repair component. 

Many can fund 100% of purchase and repairs, but the norm would be 70% ARV up to 80-90% of total project cost.