Hi BPers,I'm looking for a commercial real estate broker in Columbus specializing in multifamily properties, with knowledge of local CAP rates for different areas and property classes (A,B,C,D).  

This is known as the A-B contract.2) Once your offer is accepted, then try to re-sell that property or that contract to someone else.

@Michael HayworthThanks Michael, I love your take on this, and like A, B C's.  

Essentially is as follows:New Lease Fee (one month’s rent) + Expected Missed Rent + “Refresh” Cash(Refresh Cash = the amount out of pocket to prepare the property for new tenants, after tenant deposit is spent)It looks like this:(A/B)+(A*C / B)+(D/B)Where:A = New lease fee (1 month's rent) ($1,000)B = # of Months in lease (24)C = Expected # of months vacant in-between tenants (1.5)D = “Refresh” Cash ($500)In this example:($1,000/24) + ($1,000 * 1.5 / 24) + ($500/24)Which is:41.67 + 62.5 + 21 = $125    which is 13% of monthly rent in this scenarioThe equation allows me to make a judgement call in many different scenarios.

Yield buyers, generally turn key investments in A-B areas, budget normally not an issue, roi is.

Giving that it's next to 2 vacant properties and is in a B area of rent value (Imo) anyway the property's has reduced to 30k and it's still on the market I was considering making a low ball offer of 15-18k  .

It is a B to B- area. other units in the area are getting anywhere from 550- 700 in rent for 2 bedroom and varying bath.I will have to look into cap rate of the other duplexes, quad and townhomes in the area.

But you could get just as good returns with a B-Class property (75k'ish property renting at 1300/mo) with leverage (15% cap rate but 30% CoC return with a 75% ltv at 8% vacancies).

This is a C building made into a B (at best) and just based on what I know (I don't have the actuals) it appears to be very expensive to run. 

I would call the neighborhood a B/C neighborhood.