Even if the area appreciates (7th and Washington), it won't magically become a $2000 a month property. 

So if I have an area that is very dense with run down houses than im mailing to, Im going to make sure i cover every square inch of that area.

Washington state

Is there a formula for calculating repair cost via square footage of a house?

I also take in consideration the square footage around the community and the rent.

If both units are the same square footage and about the same in other ways, I'd raise the rent to $650 on each unit.

Nothing wrong with finding a good property w/ a tenant, but don't call it turnkey.

We have lived in Jacksonville, FL- Milton, FL- Corpus Christi, TX- Memphis, TN- Seattle, WA- Whidbey Island, WA - Montgomery, AL- Monterey, CA- Lisbon, Portugal  We are currently stationed overseas, it is wonderful but also makes the task of investing in the US a bit tricker.

Similar square foot, bedroom count, etc. comps in the area are on the water, but the property I am looking at is not.

The details as provided. 10 units(5 Duplexes), 2 bed 1 bath per unit, 640 square feet each, 2/3 acre, built in 1986, new exterior paint, new fence along parking lot, many interior upgrades: resurfaced bathtub surrounds and kitchen counters, tile floors, central heat/air.