If you're looking to be active, I wouldn't say that SFR experience equates 100% efficiently to MF.

Another duplex near sold for 136k this month near it which equates to $74.73/sq.ft. 

I would hope hope commissions would come down to better equate the effort/comp ratio of normal humans.

Make sure to factor in selling costs into the equation.

This is equates to a contact on 1 in 5 leads or less assuming best case.

Then use a conservative ADR to complete the equation. 

This will take work to hunt and the number of deals will narrow, but this eliminates the money side of the equation.  

Both are viable, but also have a cost which then needs to be factored into the equation of how many properties will be required to obtain your goals.It appears you are solid in your model. 

Which at the end of the day buying is a math equation and really nothing else.

However, when I place them into the pre-purchase equation of (ARV *0.7) - repairs = Max purchase price none of them are even coming close to where they would need to be.Even with adding bedrooms, bathrooms, cosmetics, etc. it doesn't seem that any of those renovations would even get us close to the price we would need the new value to be.Obviously, the Utah market is booming and the current sell price of these homes are too high.