You just need to look at it like any other deal.whats it worth in as is condition.are there owners in it is it vacant.and how much profit do you want to make.Many times smaller commercial banks just are not set up to Handle OREO and would prefer to just cash out and walk.. does not mean there is something sinister behind their motivation to sell.Nothing finer than to buy a note a few weeks before the Foreclosure sale.. show up at the sale and watch others bid the thing up.. knowing that you paid X for the note and they paid Y and you made the delta..

So $300 (rent delta) + $600 (maintenance and cap ex) + $95 (vacancy: 5% of $1900) = $995/month to live in a $1400 unit (savings of >$400/month). 

A delta of $50-100 in this number changes my cash on cash return from a health 12% to an anemic 5.5% - 6%.http://www.realtor.com/realestateandhomes-detail/9003-Central-St_Kansas-City_MO_64114_M81049-20007$1,050http://www.realtor.com/realestateandhomes-detail/7632-Pennsylvania-Ave_Kansas-City_MO_64114_M76595-91994$1,300Any advice on how you came up with the comp would be very appreciated!

The unit is a 1/12th share, @Stanley Kong is correct with one week per season.I have looked at the numbers and with the split that Delta charges (up to 40-50% of the rental) to manage the property left me with negative cash flows.

- i have to change the kitchen/landing tiles since they discontinued the one that i was using now i use  this kitchen tile- i pay around $1200 for paint labor. paint costs me around $500 materials- basement floor is painted gray - SW concrete and porch enamel - around $35 per gallon. but you have to prep/clean well- we try to use this vanity but if the current one is good, we just paint them black so it looks modern- change door handles, keep doors if we can- cheap mini blinds- bahia granite Wilsonart laminate counter - custom made - ~$500 per house- my floor guy charges $2 per ft. stain is 50 cents extra- my concrete guy is around $4.5 per foot- the dishwasher is any around $300- chef maid (i think) microwave- $99 SS sink or if current one is good, we keep it- delta faucets for both bath and kitchen ($39 & $54 respectively) any other questions, let me know..

When I ask him, he's always recommended sticking with Delta or Moen for all faucets and shower valves.

Am I missing anything in this delta?

I think you may be surprised that the delta may not be as drastic as you'd think.  

The delta for tearing out the wall was $2000.  

I live in Delta junction and am closing on my first duplex next month.