1. How do you truly determine "Market Rent". Is it just looking at comps in the area? Or is there a specific website that states the areas market rent?
2. How do you classify a property as an A, B or C? Likewise with the neighborhood?
For market rents I like to use a combination of calling local rental agencies, throwing the address on rentometer, zillow, and lastly......craigslist for the low end of the range. The more data points you can gather the better. I don't average these, but lean more towards the numbers I get from the agency and rentometer.