General Rule of thumb to use for SFR, but can be a quick guide for what you're looking at..1% for A neighborhoods1.25% for B Neighborhoods1.5-2% for C Neighborhoods2+% for D Neighborhoods.Not sure of the exact location, but I would venture to say you're probably in the C range in Madison and the way she is charging tenants/ vacancies.As-is with vacancies I would estimate $390,000.Completely Occupied / No major deferred maintenance $590,000.I'm curious to see other peoples thoughts on this too..

From what I've found in Canton, 2 br units are usually more 500 range.

Also, if you can replace that $418/month car payment with something around the $200/month (or even lower) range, you'd increase your borrowing power even more.Good luck, Doel!

In my area the price of a house like that would range anywhere from $80,000-$120,000 for a single family and $100,000-$300,000 for a multifamily (depending on how many units.

You should be able to find something in the 1.3-1.5% rent/price rule range. 

I respect your point of view as a tenant, but I can tell you as a landlord.

It will be owner occupied for a minimum of a year and i currently own my own condo which i will rent out so the multifamily will be my primary home.FactsPrice range for the property is 300K - 500KMonthly payment for all properties i have explored with agent is 925-1230 (all the analysis factored in projected rental income and maintenance and most of them were already rented which gave us the rent needed for underwriting)Current cash saved for downpayment = 45KIncome = 80K (45% is 3000/month)Condo PITI+HOA = 720  (currently FHA)(market rental for similar units in my area is 1000-1200)Total monthly debt + Condo = 2000 (approximately 250 is credit card debt at 0% that can be paid off if needed but have been saving the cash for DP)As you can see i will not have enough for a 20% down conventional and cannot go FHA because my current place is FHA financing (the refinancing process would take too long to switch to conventional).

Comps range from 143k-195k a lot of them being south of 175k.

I just looked for something in my price range that met my rental criteria that I knew would cashflow.  

I have the cash to do a flip in 100-150k range, but want to use leverage if I can.