I bought a day pass to get addresses and square footages of all 2/1s within a half mile radius of me and filled out a matrix similar to what you were describing.

Our retail space, although on a high traffic street that I thought was great, has just a bit too much square footage for most businesses to take on, so it sits vacant-a lot. 

There are also a couple 2 bedroom similar sq footage homes however with basements under contract could potentially close in line or higher if close near their list price.I am going on month 8 of owning the property so I have already met the 6 months seasoning requirements by lender.

I would not worry about the painting, the appraiser is going to look at the value of the home based on other homes of similar square footage in the market.

Look at square footage, number of bedrooms and bathrooms, additional amenities (A/C, garage, sprinklers, etc.) and then quality.

Should I be looking at square footage, etc?

Whats the minimum square footage you'll accept?

.: $3,000Improvements/Appliances: $5,000Total cash outlay: $26,000Annual expenses:Property taxes: $750Insurance: $700Annual maintenance: $500Advertising: $100Property management: $1540Mortgage: $3,28310% vacancy: $1400Rents:Going rents in the area for similar properties of this square footage in the neighborhood range from around $700-$950/month.

Adding square footage to just about any home would add value and on average see a 75 percent return on the investment.

Though no two houses are exact, the comps should be as close as possible in square footage as the subject property.