You'll need a large reserve fund to absorb unforseen costs.You'd be better to buy the deal using bank debt -- I'm happy to introduce you to my contact at TowneBank.I'd argue market cap rates are closer to 7.5%.

I was introduced to the BiggerPockets podcast by my brother and I love it! 

I wanted to take this opportunity to introduce myself to the Bigger Pockets Community and to connect with fellow members. 

Hello all,To introduce myself, Im a 24 y/o working professional in NYC who grew up on Long Island. 

Hi Everyone,I just wanted to take this time to introduce myself.

Hello all, finally put a profile pic up, now hopefully I can meet and network with some amazing people with a passion for real estate. Im in middle GA wanting to make a name for myself in this real estate game by any ...

Realize I did not get a chance to introduce myself. 

Just wanted to introduce myself!

I'd like to introduce myself and use this as an opportunity to reach out to other local and non local investors.

I was first introduced to real estate at about 7 or 8 years old mid 60s  when my dad worked for a land sales company that was selling lots out by Loch Lomond reservoir and the office was at the Trout Farm inn  :)  those are probably still legal lots of record but probably not buildable . you could sell those back in those days.. but the redwood trees on them are probably more valuable than the lots.