Optional requirements:

Adrenalin packets
Teamspeak for coordination with multiple runners (group runs)

Single player runs

For item farming Shulgoth is the monster of your choice.

Simply run through "Covent Garden Market" straigt to the hellrift.
Take Shulgoth down and grab the items.
Relog.

A short video of a run:

Group runs

In group runs it is possible to raise the killrate a bit. Skipping the relog and going straight from kill to kill. For this you need a "runner" which will have to invite the rest of your group once he has entered the hellrift. Each run another player becomes the runner (leaves group and runs to the rift where he invites the rest of the group).

Player A	Player B	Player C-F
runs to the hellrift (runner)	waits in base	wait in base
arrives at the rift and invites player B-F	accepts invite & port to player A	accept invite & port to player A
kills Shulgoth and loots items	kills Shulgoth and loots items	kill Shulgoth and loot items
waits in hellrift	Leaves group (becomes the runner)	Leave group (are also a possible runners)
waits in hellrift or base	runs to the hellrift (runner)	wait in base
accepts invite & port to player B	arrives at the rift and invites player A and C-F	accept invite & port to player B
kills Shulgoth and loots items	kills Shulgoth and loots items	kill Shulgoth and loot items
"possible runner"	waits for new runner!	"possible runners"
...	...	...

Example for 2 player group

#	description	player A	player B
1	Killing Shulgoth (player A: leader, player B: member)
2	Player A waits in hellrift player B (runner) leaves group and runs to hellrift again.
3	Player B arrives at hellrift and invites player A
4	Player A accept invite and uses groupport to join player B (player B is now the leader)
5	Kill Shulgoth
6	Player A (runner) leaves group and runs to hellrift again. Player B waits in Hellrift.
7	Player A arrives at hellrift and invites player B
8	Player B accept invite and uses group port to join player A (player A is now the leader again and B becomes the runner)
Repeat from step #1

Information

Why runners?

You may invite people before entering the hellrift and kill some monsters on your way. But unless you are looking for XP it is faster to farm Shulgoth with a straight run.