I currently have 8 units (9th owner occ) in that triplex, a duplex (2009), and 4-plex (2014),  all in south seattle / burien areas.Seattle is way overpriced and IMO due for some kind of correction right now ;  I don't see how things can continue to appreciate like this,  and at least within seattle itself many smaller MF properties are worth more for the dirt under them than the structure itself just for the redevelopment potential,  which is unfortunate at least from the perspective of an buy and hold investment viewpoint and availability of decent and comparatively affordable rental units in neighborhood-scale buildings. 

Both houses are currently held in traditional mortgages and have 3 units each.

Properties with 1 to 4 units are normally valued using recent sales of comparable properties.

I've put together a simple Comparable Appraised Homes Calculator to help folks use to input the information from these other properties in order to justify their appeal. 

@Michele G.While I recommend NKY properties to my clients there is a lot of activity there and deals are harder to come by due to the smaller footprint compared to just north of the border in Cincinnati.  

Every time the turnkey topic comes up I just wonder if those potential investors have compared the other available rent-ready options on the MLS.

Obviously you need to be familiar with the area and do your research, but market rents are good compared to the acquisition prices!

If homeowners see their bottom line w these services and with a traditional sale most people will go with the inconvenience of showing their home for a week and being in escrow for a month to keep THOUSANDS of dollars in their pocket.Most homeowners don't know what their home is worth or that it has gone up as drastically as it has over recent years.

I am however, open to comparable comps.

my traditional lender informed me that with my high student loan debt spoiling the debt/income ratio, I only qualify for 175,000 and no more.