Thoughts on this deal?

[Jordan M.]

Hey everyone! Just wanted to gauge some thoughts on a deal I have in my state. 

46 units 24-2 bedroom 22- 1 bedroom 

2buildings, each have a shared laundry room

PP-$1.8 mill

Rehab- $1-1.2 mill (confirming numbers this week)

Gross rent -$450k/year conservatively 

Operating expenses-$150k conservatively 

It’s in a great location, on a river that will be getting developed in the next 3-4 years so it could appreciate very well. My proforma has it at almost a 10 cap. Thoughts on this deal? When would this deal not be worth it anymore?