[Calc Review] Help me analyze this deal

[William Hughes]

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Hi,

I analyzed a large multifamily property, and was hoping someone could review my numbers and see if they make sense. As you'll see, the forecasted cash flow is negative; I'm not considering buying this property. It's more for practice that I analyzed it. I used 5% for borrowing costs.
Here is a short description of the property:
Built in 1962
Fully renovated interior & exterior -- recently installed a new roof and has re-surfaced and re-stripped parking lot.
Each unit separately metered for electric. 15 Units total.
Unit Mix:(5) 1bd/1ba - 753 SF(2) 2bd/1.5ba - 1,089 SF(8) 2bd/2ba - 1,100 SF

I've attached a copy of my projections, financial statements provided by the seller, and an excel spreadsheet explaining how I calculated income, utilities, property taxes, etc. I based most of my estimates off the seller's financial statements.

Do my income and expense estimates appear to be reasonable? What are your thoughts? Any advice is appreciated.

How I got my numbers: