I wanted the property at $210k but of course she said that was a low-ball offer. 

So making sure you have enough cash to keep the ball rolling is super important.Finding any lender who will lend at this amount will be a challenge. 

I have estimates of the costs for architectural services and a ball park figures for the renovation costs, acquisition costs and a financial projection of the revenues and investor recompense. 

Looks like the smallest listed currently property is a 66 unit in Brownsburg. http://www.tamultihousing.com/get_listings.cfmIt's mostly relationship driven so if you haven't already I would reach out even if they don't have anything listed at the moment and get the ball rolling.

First let's ball park their gain at $690K and depreciation recapture at $100K. 

Decided to sign up here to get the ball rolling on my passive income life that I wish I started long ago.

You need to call a local real estate attorney and get the ball rolling because no one who rents will want the eviction on their record and Missouri is not a crazy hard place to evict. 

What is left is a ball park calculation of your "true" cash flow.

paint ball places I have gone to needed a very sizable investment in the guns and clothing to rent to those playing paint ball. 

This will give you a ball park estimate of the viability of renting as opposed to selling.Obviously you will need to know your market rents.