But your liability is still limited to the LLC when it comes to vendors, partners, and tenants.If you are going to do this professionally, for a living, it is very important to think about your potential liability, especially when it is multiplied because you own several properties.Hope this helps.

The previous tenant had cats multiplying and kittens were crawling from out under the fence.  

Average transaction costs are around 7% of the sales price of 155k so that leaves you with 9150 equity if you sold the property.Now when you compare the 3600 annual cash flow over the 9150 equity you're making over 30% COC return with out even factoring in depreciation, amortization, or appreciation (if any).You could also use gross rent multiplier, cap rate, break even ratio, or others but I usually use cash on cash and or cap rate personally.

Being in the military you know about the concept of a force multiplier.

Even if you have paid down 80% of the value, you will still care the MI.Just for kicks, take the PMI you will pay every month and multiply it by 12 and then by 5.

At the very least, yellow letters cost the price of a stamp per letter multiplied by hundreds of letters each week/month.

Then multiply that by X to get what a similar car costs today.

If comparable houses sold for an avg of $85 per sq ft, you multiply that times the sq footage of your subject property to determine the ARV (After Repaired Value).The basic formula most investors use is:ARV x 70% - RepairsSo if your subject house is 2000 sq ft and the comps are at $85 per sq ft, your ARV is $170,000.  

Because of this I would calculate as $1,500 per month times 12 multiplied by .5 divided by a 10% cap rate or $90,000.This creates a value of $302,000.Please heed Christopher's comments. 

Other ways of estimating price to compare your building to the market (both sold and for sale) could be: 1) using price per sq ft (more common for single family) 2) using the gross rent multiplier 3) doing a simple price-per-unit comparison None of these take into account expenses, so there is one fewer variable to account for.