I was thinking maybe $25-35M for what I want to do, using back of the napkin math (Denver is probably more expensive than Louisville). 

I was 29... the 'traditional' retirement plan left me with 40 more years of working before I could retire.With some back of the napkin math... over the next 40 years88,560 hours spent at work77,120 hours spent with my familyThat really sunk in...

Back of the napkin math:Nearby fourplexes selling for around $200k.

Yes, you can get it done more cheaply but if you're asking for a back of the napkin calculation to see if the deal pencils overall, best to use that number.

Okay, on a napkin try to answer these questions:Purchase Price: 65,000Cash to Close: ?

its all in my head and on a napkin.. the math is simply too basic for me to delve into it any deeper than that.. plus its all supposition"...I think you need to speculate appreciation, increase of rent/cash-flow, vacancy, CapEX, etc. which may be uncertain and ultimately are numbers you don't know for sure how they are going to play on the long run.  

But the 1% rule is just a quick "back of the napkin" calculation.

So asking for general back of the napkin averages will not get you far and neither will using the 70% "guideline" (its NOT a rule) for all your offers.You want meat and potatoes, here it is but it requires work and effort: GO to your local title rep and have them pull all the cash closed transactions in your market area where the buyer was an entity.

If/when you are the owner, lay down the law about keeping their units in clean and sanitary condition or get the tenant out. 

The numbers seem to work from my napkin projections at a build cost of $90/sf.