Find comparable properties to what yours will be after rehab.  

I agree with what many others have said here regarding asset protection - that is a huge benefit of an LLC or any other entity when compared to holding things in your own name.  

I'm a licensed Doctor in the State of California so I have something to compare it to.As far as your beliefs, go back and read your original post and tell me how you're not claiming to have "Moral Superiority" because you are "a highly religious person".  

Perhaps we can connect to share and compare information? 

Compare the two. 

It would be a good idea to align yourself with an agent here in SD like myself to get you a comparative market analysis on any properties you are interested in.  

I need to be able to compare it against other things I can invest my money in, like stocks, loans, flips, etc - that's why the cap rate is critical for me.

Comparables is the most common method.  

My mortgage broker is saying that the rate on rental Fannie Mae ARMs is very bad compared to 30yr/15yr fixed.

Aside from the inside looking nice and the proximity to campus, because I bought it right, I can keep my prices attractive yet profitable compared to the new builds.