If you want my full library, PM me.While the general theory is fairly universal, depending where the OP will be investing, many of the references above will be lacking detail applicable to his home market.

I'd bring it to the NC MHA once you have the the detail of what the city/county says. 

I won't go into all the details here but my point is to highlight a bit more what's happening in the industry and ensure folks know its a team sport, that there are clear distinctions between an operator / sponsor and sometimes they are one and the same, and that the person who may be raising capital should both practically and legally have a broad based role in the GP partnership. 

It also eliminates the need for appraisals, and the annoyance of detailing every minor financial transaction while you apply for a new loan as well as loan origination costs etc and since you don't have to deal with the bank  you can close a lot faster.

And of course you need to make adjustments for lots size, and bunches of other details.

It’s also free, allows me to not have to give out my bank details and let’s me block partial payments which was important to me.

I will shoot you a message and get some details.

While it isn't always accurate Rentometer says average in the .5 radius for the last 6 months for a 2-bed average over $900.Thank you @Gretchen Place for the detailed response!

Very detailed.

The particular property we're looking at, thankfully has a driveway & a 1 car garage and is not on a major thoroughfare.Thanks again for wishing us luck and we'd be glad to DM you the details should we decide to pass on the property!