My bet on the next twist is the death turning out not to be natural causes.

As there is only a one lane asphalt driveway that goes between the building and the east property line the contractor will have to operate his heavy equipment there and will hurt tenant access and definitely damage the asphalt.

Remington, I own properties in Athens and while the data/statistics/analytics might look great - there are many challenges with actual operations. 

Try researching organizations like Oxford House, which operates sober living homes nationwide, or check directories like TransitionalHousing.org for recovery housing programs in your area.

Hope you done get calls asking how to operate the TV remote or how to watch live sports!

While BP has a rent estimator as does rentometer.com (both allow a few free uses, I believe), I agree with @Zachary Deal that your best bet is to seek out guidance from either the listing agent or a property manager well-versed with the area. 

So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

We recently did a loan involving a borrower with a mind-numbing operating agreement involving nested LLCs, retirement plans, and individuals. 

Just ask any MFH operator who did an acquisition in last 18-24mnths. 

Account managers have literally no idea about day-to-day operations and glaze over specific questions asked to delay and confuse owners.