Needs help with this offer

[Tracey Williams]

Hi Everyone,

I hope everybody is having a great day and fulfilling your dream as a real estate investor. I stayed up last night working on offer price for some properties that are coming my way and I need your contribution on this one.

A 12 units Apartment in a good location. It's a shortsale
Each Unit is 2bedroom with 2.5bath and a finished basement
Year Buit is 1990
Asking price is $500,000
90% occupied
Rent is $750- $800
Tax is $20, 956
Insurance ????? I don't have the number right now
Management Fee= 10% (Assume)

Please tell me what you'll offer and how you arrive at the price or the rule you applied.

Thanks
Tracey