The math is simple though... take what you need to monthly to provide for FI (add a little buffer), and divide by your average cashflow per door. 

Another thing worth noting about Edmonton is that we are suffering from "urban sprawl" and to fight this the city changed the zoning bylaws last year to allow secondary suites in nearly every property and even 3 suites per property on most lots.

I'd say a good estimate ~$2k, but with the number of bank properties on the market, these could be purchased on the secondary market much, much cheaper.

Birmingham, Atlanta, Indianapolis, St Louis, Kansas City, Memphis, Little Rock, Indianapolis, Greenville, Jacksonville, Tampa, Houston, San Antonio, Little Rock, Milwaukee, Cincinnati, Dayton, Cleveland, Ohio, or other secondary or tertiary markets.

Then depending on what utils tenant pays, the FMR gets reduced by the utility allowance.I have a MSEE and the math they use is confusing as all heck.  

Do the math and see how much you can give him in return.

I just updated the math.

What I do know about myself is that I’m a fast learner and math used to be my favorite subject in school.

Do the math.

A large part of the value is what you can build with that lot (zoning laws), location, architecture, cost of the build (local builder), and comparable sales or rent in the area are for that structure.Example: Land = 50k, Build = 125k, and if comparable sales are 275k then you could net some profit.Not perfect math but some rough estimates can give you a ballpark estimate if it is or is not worth it.