You will need most likely a minimum of $1,100/unit (assuming the $3,315 rent roll is for all 4 units) to even begin looking at this as potential for a rental.Because you are still missing some factors, it will only hurt the bottom line.

I've only included income for the two apartments. the bottom floor is zoned for commercial, that will be bonus money.

I’ve seen on BP that the common denominator says the bottom dollar would be $100 for multi family and $200 for SFH.

You have to look at where prices are today in relation to their 2006 high and not how much they've gone up from their bottom.

I have come across an off market property that has a finished top level, and the bottom level is a converted finished living space without pulling permits.

Sometimes you'll buy at the top, other times at the bottom. 

Just thinking out loud -- dangerous, I know -- Hah, I didn't even get to the bottom of the thread yet and posted essentially the same thing.  

Bottom line - do not let this go! 

Bottom line, it comes down to how active you want/can to be with your investments and what returns it will produce based on your time devoted to this business.Here're a few articles on the topic for you:https://www.biggerpockets.com/member-blogs/10850/84064-what-type-of-investor-to-be-when-i-grow-up-active-or-passivhttps://www.biggerpockets.com/member-blogs/10850/85836-should-i-buy-a-turn-key-property-or-invest-in-a-syndication

Now its one year worth of interest.If my scenario of sluggishness economy for a few years doesnt pan out i may be a bit sad cashing out a cd early.there are some reg A offerings  ( don't need to be accredited ) that pay 6%  are the bottom of the capital stack ( safest) with 30 day calls..