There is a method called snowballing.

It would be a little disappointing to not get anything from using a method that seems to help other people land at least 1 deal a month from 160 letters while I'm sending out 300.

An appraiser would calculate their value based on what they call the "income method".Rents historically have also increased at roughly the rate of inflation.

Willing to explore any methods.

As @Brandon Turner mentioned the podcasts are amazing, and it will also give you a flavor to the many different methods you can invest in, for example this week @Ankit Duggal had an INCREDIBLE podcast on RE tax lien investing - was eye opening (at least it was for me).

I suspect that this may be a scenario that he is more likely to consider after a duration of me pushing the house enough to get a decent amount of interest and he realizes that he's not going to get what he's asking on it.My question has to do with the method by which I would endeavor to sell this house for him.

I personally would not use any method like that as a final determination of value but as a cursury value it can be useful.

I switched to this method a few years ago after spending so much time on tenant screening upfront only to have the people not show.  

I definitely appreciate your encouragement as well as advice, I definitely will explore through this brilliantly systematic community to receive all of the potential it has to offer, I'm actually deciding on upgrading to the pro edition to get a even further in depth experience but until then I'm overwhelmed and definitely excited with all of the support I've been recieving so far, thanks Jon!!

BRILLIANT!