Looking at that now with a small office building so trying to get realistic cash flows requires flexibility in modeling.  

That can work.I'm wondering if you can somehow creatively do this deal where you pay an extra $5000 for this new condo, but have $5000 held back by the seller for you to do some kind of upgrades, but then just use the $5000 to pay down your original condo so you can get to 80% LTV in order to drop the PMI insurance and refinance at a more realistic rate.Is that HOA monthly? 

Also, do you think 35% in today's market is even achievable or whats is a realistic COC return?

I'm currently analyzing a deal for a 8 unit building. Current owner doesn't have any property manager in place and also doesn't have records of vacancies.

I have no intention of managing the property myself. What ra...

Or realistic cap rates.

It is worth it when you can afford to do that, but in the beginning, it's not a realistic way to find cash buyers. 

You have accounted for a reasonable fee for management in case you need/want an outside manager later, you are at about 40% of rents for expenses which is realistic I like to see between 40-50%.

Just posing the question out there to have some realistic expectations.

From your experiences, would it be realistic to do?

A letter that has a somewhat realistic number shows that you at least know something about the property and have done preliminary research.Thanks guys!