Wall wash with TSP prior to painting if possible,, if the ceilings are flat (not popcorn) wash also, a sponge mop with a towel over it works great and fast..2 buckets one wash one rinse.you wash everything,, doors, trim, floors, cabinets, light fixtures, all windows glass and tracks.Bleach is ok to use but I've found that TSP is best thing to actually REMOVE the nicotine,, you'll be shocked when you see how well it works. 2 Prime, Kilz primer to seal anything your going to paint.3 Remove all blinds, throw them away the plastic retains the odor and they'll be gross anyway.4 Air Ducts if you can reach inside wash out.. then spray Kilz in them as far as you can reach with the system off.  

(either to fix/flip or fix/hold).....leading to a nice (40% gross margin) once completed.

He’s getting 10% interest and gross income/mortgage payment ratio is very high + he’s getting cash flow sweeps every year so that the total loan amount is repaid in 3-4 years.

Gross rent is $1450 per month ($625 for one unit/$825 for the other).Taxes: $1280Insurance: $1400Operating expenses: $725 (Accounting for 50% of rent)Mortgage380PMI0Insurance116Taxes106Vacancy35Maintenance725Total Expense$1,362IncomeMonthly Rent$1,450Annual Rent$17,400Cash FlowMonthly Cash Flow$88Annual Cash Flow$1,056I understand that most target $100 per door, and that would be my goal as well.

Part of the reason might be the fact that you're putting 20% of gross rents into reserves.

Property management 10% = 240x12 = 2880MAO=(ARVx80% to be conservative) 168k -expenses 26663 =141337The rule of thumb for the 50% rule states that half of my rental income would go to expenses and the other half would be gross income minus rent.

Gross, expenses, deferred maintenance, NOI.

We first sprayed ~50/50 bleach everywhere to just kill gross bacteria and then went back with odaband (fungicide).  

Gross Rent is $6000/mth all units currently leased Through August 2018.  

even at average rents 1200 X2 and 1500 X1, this deal with 3700 in gross rent looks much better.