How to analyze a multi family deal with 100% financing

[Joshua Simon]

Hello all,

I’ve been investing for about 5 years in single family properties that I manage myself and decided to jump into multi families. 

My question is, is how would I calculate a deal using the cash on cash method without actually putting cash down. Say if I have a 20 unit I want to buy for $500,000 and I come in with $75,000 equity from my properties and the seller takes back $50,000. Would I use a different metric completely to analyze this type of deal? I know I need more than just one analytic to size up a property but I’m just curious. 

Another question I have is, I know, a broad one. What kind of returns (ballpark) should I expect on a financed 20 unit property after all expenses are paid annually. A property that’s well kept of course. 

[Caleb Heimsoth]

If ifs commercial multifamily you’d use a cap rate