I hope to secure an FHA loan to finance this and rent out the other two units.

I’ve learned recently what the BRRRR method is and am interested but I’m not sure if it’s where I should start.

I've had to explain to my agent how to valuate a 5+ unit because he kept sending me comps using the SFR method even when I was asking him for cap rates for commercial multi.

So any good methods anyone?

Your numbers will likely be better if you continue the room by room method, but it will just take a bit more work. 2.Be sure whenever you get the property to get a lease that is specific to room by room leasing.

The house rents for $850/mo, and I think I could push it to $950, give or take - but the debt payments (30-year loan at 4.75 or 5%) and taxes and insurance would take up all of that, leaving nothing for renovations.One alternative I’ve pondered would be to secure it and then seller-finance it to an owner-occupant.

I believe the damages will be more than the security deposit.

I believe the damages will be more than the security deposit.

If they pre-pay last month's rent and a security deposit equal to another month's rent, I think they have strong incentive to not bail in 6 months. 

I hope that you have changed the locks and secured your property to prevent anyone else with a key to return.