I am doing an evaluation on a property that the owners live in the home structure and have two small short term rentals. Would like to compare how others have valued.
In this case, I would look for comps for the home by itself and see what the value would be with no rental units. After that, look at the income projections for the rental units and assign a value using a cash flow model.
Of course, finding another house with two rental units that just sold would be best but that’s highly unlikely you’ll find a comp like that.