I know people look on AirBnB at competitors around the place, and see what prices they are putting so that you can be competitive. 

There's a ton of competition here right now.

@Jeff Banky Indianapolis is good, but competitive. 

Approximately, this would calculate to around 5k monthly of gross income (depending on different variables such as property tax, pmi, insurance, etc.) only getting a 1% percent return per purchase price, 10K monthly if all the assets producing at a 2% rate. 2% rentals are tough to come across especially in today's competitive market, but I myself recently closed on a duplex that has the potential to be producing 1.04% rental income of the purchase price, the crazy thing is I did not realize this until I was already 2 months deep house hacking!

Hi All,I currently find 99% of my deals on the MLS and as we all know is very competitive.

Awful clients, awful competition.  

Sorry it may be hard in your market with competition but no way I can sweat out a rehab with only 50k spread to work with bc I usually drop 20k alone on kitchen baths hvac appliances and paint.

Also tells them that you are shopping so they get more competitive if it is a borrower-paid transaction vs lender-paid transaction where the pricing is set.

They will all know that they have competition.  

ARV x 60% - rehab = offer             You could go a little higher if this is in a great area that sells in a week for asking price and if in a very competitive investor market.For a cosmetic rehab  ARV x 70% - rehab = offer (maybe 75% under competitive conditions)Hope this helps.