I need help running these numbers! Big purchase (make or break) 20 unit 2bd 1.5 bath apartment. I have provided the calculator screenshot.

[Jason Branum]

I was given an exclusive lead on a apartment complex purchase and the numbers appear a bit tight. Please help!

This is a 20 unit complex within a mile of my house... I'm committing the bigger pockets cardinal sin because at the moment my rental properties are in my name. I realize that would have to change immediately.

My bank is willing to require the bare minimum down payment because they feel that my numbers are safe conservative estimates. My concerns: I don't have an LLC yet, very little cash (only equity), and the 50% rule puts me at -$350.

The positive: there is a waiting list a mile long on these apartments and the whole complex has new roofs and tasteful upgrades (appliances etc.) it's a nice place... Very uniform identical units. 

[Brie Schmidt]

@Jason Branum

 - You need A LOT more information before considering this deal.  I only buy rehabbed and occupied properties and I still assume an appropriate maintenance budget.  I plugged what you have into the calculator I use before I have actual numbers 

A lot can change depending on how the seller has it set up.  If utilities and water are metered per unit then that will save you, or if he includes utilities in rent that can kill you.  

Your bank will probably require his schedule E so don't feel bad asking for it, or at least a 2014 p&l