By my calculations after taxes, repairs, PMI, vacancy rate calculations, mortgage, etc.

But in this case, since we will only be needing the property and tearing down the home what do we use to: 1. come up with comps  2. develop my repair estimates.My guess is that I need to find other older properties that have been bought, torn down and turned into multi-property homes in the area...Any help would be greatly appreciated!

(Side Note: if you really want to jump your credit score in a few months (because it takes time for the reporting to update), and if your disciplined with your spending try this;1st) I went and did the math to see what my positive cash flow each month off my active income (let’s say you’ve got $500 left over after you go through your monthly spending avg. which is all you kick out vs what you bring in)2nd) Go get a credit card with 0% interest for 12mths with NO higher than 5% transfer fee.( their are some with low as a 0% transfer and I had got that one on my 2nd round cause my credit wouldn’t let me at first)3rd) do a transfer balance after 24- 48hrs of opening the card (Nope you don’t need wait to actually get the card just call in and tell them over the phone to send a Blanche transfer check to your bank account in the amount of your car Balance; because you’ve only got a 30day window of transfer with 0% interest for the 12mths)4th) PAY YOUR CAR OFF IN FULL, and take your old car note (let’s says it $450mth) plus your $500 positive cash each month and add all $950 each month to pay against the balance on the card5th) in 45days start checking your CreditKarma app (its free) and don’t worry about the 5% if it’s larger than your car loan % because once you’ve paid your car off your score will go up and in a couple months of $950 your car will be paid OFF not in 2more years or so...Thus saving you probably more than $2,000 in interest on the car loan (so you get to keep $$) and time in payments.Your saving money on interest (keeping it in your pocket thus making your pocket bigger!

The property was built in 1904 so please also check my numbers for repairs.  

They can take it, counter or leave it, they are grown adults.The value that I provide is usually the same value any cash transaction brings...a fast close, less paperwork, no repairs and no contingencies.

Purchase price was 100k plus 15k in repairs for one and 128k with 1k in repairs for the second. 

I've been considering buying some C class properties around $100,000 or less with minimal repair that would also hopefully be close to the 1% rule. 

Admin work, social media, online stuff, phone calls, pick up supplies from Home Depot, etc. 

While listening to podcast #283 (which you should listen to in case you haven't), Paul mentions that when he wants to buy a house, he sends the homeowner a three-option letter of intent with the following options: Cash offer (percent of what property is worth minus repairs, typically 50% of after repair value, this is the lowest value offer of the three that are given)Owner financing (interest only, this is a higher offer)Owner financing (principal only, no interest, this is the highest offer)Option 1 is easy to understand, the ones I don't know how to apply are 2 and 3.

You can write into the lease that the tenant is responsible for utilities, lawn care and small repairs.