Then refi the loan using BRRR method.

I used this method in college when subletting rooms to roommates.

I am wondering if these are both possibilities and which might be better, so IF I need to keep track of building costs that are specific to that area I know that going in and getting bids etc...1) Use the 'square foot method' - this square footage will be approximately 17% of the overall area of the home.

Originally posted by @Scott R.

We now own a total of 7 rental units comprised of 3 duplexes and one single family. Our last two purchaces were bought using funds from a private investor. Although both parties are happy with the agreement (payments ...

But, it's a time consuming and who knows how long before I can reep some benefits from this method.

They are often generated by agents doing CMAs, comparative market analysis, which is a method to compare properties to guestimate what the fair market value is.Fair market value is the value at which someone will buy the property within a reasonable time.

What would be the gain vs drawback of either method?

So if I wanted all the duplexes in a certain area I would call and get all R-3 lots in that part of town, not sure exactly how zoning works where you are but worth a try. 

Hi Konrad @Konrad R.