I suspect it was a part of their process to change the electric utility as close to the projected move out date, but the tenant never moved out.

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

However, I am doing a separate project where I am building 3 ADUs on an SFR, and there are DSCR options for those types of projects

These larger projects are going to have a lot of steps.

Most turnkey companies proforma does not tell the complete story and that is why is called "PROFORMA" OR "PROJECTION", they don't account for the true vacancy, leasing fees, holding costs, and Headache factors that come with a Class C and D properties and neighborhoods.Hopefully, they can help you get to 100% occupancy and sell the property so that you can re-invest in a better neighborhood and relatively newer property like 2020 or newer if is possible in that market, or just go to another market you understand better or have some kind of connection with.All the best and keep us posted on your progress.

They offered to provide projections or a pro-forma.

Once you've gained enough experience, you can transition to more BRRRR projects.

I love house-hacking for Tampa Bay for a few main reasons: 1) great long-term outlook on appreciation; fundamentally strong market and growth projections, 2) diverse opportunities of house-hacks from luxury house hacks, cheap house hacks, room by room, STR, MTR, etc. 

I've had people work with me or invest in my projects because I can show a proven track record.