There are a number of factors to consider; how long your brother has owned it, value of the property, type of building and specialty options (charging stations for electric equipment, etc.), fencing and security systems, and numerous other factors. 

Whether they are on a long-term lease or on a MTM rental agreement will also factor in.

In addition, your DTI ratio will certainly be a factor at some point in your investing.

So, if our our borrower has a large arrears balance, when we do a loan mod we may factor their new rate and term on the actual UPB and defer the arrearages as a deferred balance due at the end of the term.

You factor for the appropriate amount of maintenance that is likely given the condition of the house and if the numbers still make sense you're good to go!

No doubt that Athens will be an integral part of Atlanta in your lifetime.  

Figure out your PITI then put in factors for vacancy, repairs, and property management, if you intend to use it. 

But the handy man is there for an emergency, broken window, sump pump problems, door won't shut etc.I want guys working on my houses that do not have that creepy factor, it sounds a little silly but my tenants are about 75% female college students so I can't have guys lingering around, they need to get the job done and get out.

I have enjoyed finding property managers that are more vertically integrated (RE agent, contractor, PM).

@Steve Hall I guess I did leave out the fact that the reason these properties are cash flowing lower is because I'm factoring in cost for a property management company.