A quick way to estimate topline revenue for a specific property would be to use a tool like Airdna or Rabbu, then you can run a full pro forma from there.

@Jenet ChristiansenWelcome to the BP community, where you will find like minded individuals committed to REI and also helping others succeed.I am very sorry to hear that your dad an daughter passed.You mentioned a desire to form a LLC and as such I added a link for your review.https://www.biggerpockets.com/rei/real-estate-corporation-llc/ (Business structure LLC and Corp info)Your time on this social media site will be well spent.You have taken the 1st step by announcing your readiness and commitment to embark on a REI career.Whether you pursue, wholesale, rehab & fIip or buy and hold it's up to you to decide.The bottom line is that you must take action to start.

There is no market supporting data, no pro forma to base those profit numbers on and you have the cart before the horse (see real world assessment below).

One of the RE books I read suggested that you should form a team (including accountants) who are also RE investors themselves.

I recommend using the CAR PR form and the CAR AOAA form, as they are both CA Realtor approved and they are designed to work together.  

You can find comps for such things on Loopnet and Costar as well as through brokers.And remember two things, your anticipated repairs should be counted in the "price" when you run your cap rate and always use real numbers (i.e. the operating statement) no the pro forma to find the cap rate.

In this case, the Realtor took my pro-forma and asked if he can show it to his seller.  

I am trying to find the best way to buy two potential properties.  I currently have a Georgia LLC that manages my 1 Georgia property.  The property is in my name so that LLC technically doesn't own anything.  I curren...

If the answer to this question is “no”, you need a good deal more than getting a set of plans and a cost quote.Hard cost is one of many factors in a ground up project and is basically useless unless you have the ability to plug it into a comprehensive pro forma analysis.Feel free to contact me if you’d like to talk about this.

We don't want to form a LLC due to the poor finance options out there.