Right now I just wanted to get some practice researching and gathering information and running comps. rentometer seems pretty accurate for the area based on the rent rates I know about.

Thank you Jason Million I am going to talk to my lender and figure out what they know, and will touch base as soon as possible.

. - Option B is a little more farsighted, and a little less "analysis" based.

I would make an offer based on how much your mortgage would be vs how much your monthly rent roll and operating expenses are.

I have a feeling based on location of property, I may have a tough time finding $.I'd also take recommendations for a local bank for a refi after rehab is done.Thank you!

CAP Rate (Capitalization Rate) is assessing the property's current rate of return based on taking the Net Operating Income (NOI which is correct gross income less operating expenses) and dividing it by the property's value (or purchase price).

I choose the tenant based on credit and rental history without any set ratios as the quality of applications varies from one neighborhood to the next.

Determine if you want to move based on housing needs and wants.  

You cannot base your entire REI based on a single bad experience with ONE property alone

Based on that ARV, your all-in cost should be no more that $126k (70% Lender's appraisal).