Update:  I shopped around a lot, and was able to secure 4.00% when my regular lender was robbing me at 4.37%. 

It would result in me taking a $9,400.00 pay cut leaving me at about $10,000.00.

Poke holes in this for me-Tom Some people d those but there has to be enough meat on the bone for the end buyer to be happy.

I would be looking to execute an assignment with an assignment fee to be paid to me at closing.  

I’d call up the PM that has been operating these buildings and really ask probing questions about the history of the property.

@Geoff Garber you need to make sure the deals you enter have enough meat on the bone to go around.

If I factor in the raised rents and garage income, the deal works for me at 750k.

I know there are some cities up north of you that were pretty attractive to me at some point a few years ago. 

Personally, I also maintain a certain level of leverage for asset protection (ie. get sued-->forced to sell @ 10-15% market discount, 6% agent fees, not much meat left on the bone @ 75-80% LTV)

It must work for him as he's able to rent them for me at market rate and then turn around and make his profit.