Here's to finding great deals, knowing and doing my own math numbers!

After doing the math on the properties and the money i "saved" it was just not worth it.They went out of their way to replace every possible part before replacing the entire item and every time, the issue was "something else" so i just kept paying and paying for the service calls.

More equity means lower payment and higher monthly cashflow...my beer math tells me that.

My suspicion is that there are extenuating circumstances, you did the math wrong, or this is very far inland.

The math works so well in terms of NOI.

then do the math as @Jay Shapiro suggests. 

Vacancy of 40% is very high other than that assuming your math is correct it doesn't look like a terrible deal.

That good news in that it’s much easier to increase the value by forcing appreciation.I would do the math on your deal a little different

Or you could do the math for him and tell him what he will net.

For simple math you can build four 1,000 sqft units for about $150 per sqft, or $150,000 per unit, so $600k in build cost.