Really you just need to look at similar sized homes with the same bed/bath and see what finishes and floor plans the ones in the top end have.  

My agent said the bring in $2200/mth but have no other debt or payments.They are stressed about having to move (it would stress me out facing packing all that stuff up) and willing to pay more to be able to stay.I feel we just screen them like new tenants and if references check out I'm leaning towards continuing with them, although they are below the 3x rent income requirement.The property would probably need $3-5k in carpet and paint to ready for new renters so it would he great to have a good built in tenant for a while.Anyone have a situation like this go bad that can share some things to watch out for??

You will probably have to talk to several people before you get to the right person any how depending on the size of the bank.

I think getting the prospective tenant to sign the lease as soon as possible after her or she has been screened is a better option. 

I did not budget properly for flooring and know it is not wise to pay 2-4$ per sf to refinish the hardwoods so they can be torn up in a couple of years so my options are a rebuff(screening) then coats of poly or laminate.

You need to know in your head what a paint job will cost for a certain size home, what flooring is per square foot, what it will cost to replace a bath and a kitchen.

@Ryan White what size multifamily are you looking into?

@Elizabeth Martinez,  based on what I've read and listened to, for time efficiency like @Christian Kenworthy mentioned, advertising sounds like the route to go for general motivated sellers/high equity, not necessarily pre-foreclosures, and start small with volumes that you can handle in terms of incoming phone calls to screen, then put them on a schedule of repetition and follow up over several months.  

$6k sounds high to me for a roof of that size, regardless if they're tearing off 2 layers, etc. 

. $200k-250k homes are on average 6,000 lot size sq ft in that area.