Help with purchase of multi-family property

[Wirley Pierre]

Hello BP fellows, 

There is a multi-family property with 5 units in the Fort Lauderdale area priced at $599k that has an average occupancy of 100%, cap rate of 6.53. The current lease is $925 - $975 p/m grossing $57,180 per year, netting $39,118 p/y after expenses. How do I present this to a lender without requiring to put any money down? 

[Jaysen Medhurst]

@Wirley Pierre, find an equity partner or see if the seller will do owner financing. No lender (especially, a commercial lender) is going to let you get in with no money down. They will also require 6 months of reserves.

Are there opportunities to add value or push rents?

My quick math shows you'll be ~$400/month underwater.