Seasoned MF investors lend me your eyes.

[Michael O.]

Looking to get into my first MF property. It would be an out of state investment for me. 24 unit asking 850k

Concerns

-The area doesn't seem to be the greatest. Although broker claims in the path of progress. 

-Price per unit is on the high side along with rent for the area

-It seems to be managed well low occupancy rate, however there are many like units that have been on the market for a long time (zillow) .

Please see financials below, these are not Proforma rather actual..

[Sam Grooms]

I doubt this is actual. 

First, vacancy was right at 5%? I highly doubt that. 

Second, no electric expense? It's possible, but that means there is zero lighting on the exterior of the property. Properties usually have security lights, walkway lights, landscaping lights, etc. 

Third, no other income? They didn't charge a single late fee?

This just screams broker proforma to me. Ask them for the T12 P&L by month. I'll bet it doesn't tie to these numbers.