I would only underwrite based on actual rents not proforma.

I mainly want to ask if these assumptions are reasonable and if there's anything I haven't considered:(1) multifamily units in NJ close to New York City, ~$1,000,000, 20% down payment, (2) Using the following assumptions: 4% appreciation rate, 6.5% interest rate and 5.0% refinance after 5 years, $10,000 yearly maintenance fee(3) ~$6,000 monthly rental and assume 3% increase yearly with 5% vacancy rate(4) Based on the above, the calculated IRR if selling at the 10th year is ~19% (considering tax benefits) and ~17% (without tax benefits).

On the surface, the deal seems appealing, but there's a catch: the asking price is $475,000, which is about 18% over the market value (based on comps and DealCheck estimates around $402,000).Details of the DealProperty: Duplex, 2,400 sq. ft., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

Based on this article (https://www.thebaltimorebanner.com/community/housing/baltimo...) it looks like that out of 41,000 tax lien sales, 1,750 were foreclosed on.

Based on the info in your post, my recommendation would be to turn these assets into well oiled machines and max out their NOI.

Search for the BP podcast episode with Jude Bernard - he is very active in NYC.

I think I’ve covered my bases, but I’d love to connect with others working on similar models or interested in this niche.Looking forward to hearing your thoughts!

If one of those can't be shown, the request for appeal may be denied or the court may hear the appeal and return a per curium affirmed (PCA) based simply on the briefs, both of which will shorten the length of time to conclusion.I looked at the CO promulgated real estate contract, and it has a provision that the prevailing party will be awarded their costs and expenses including attorney's fees, so the parties better be sure of the strength of their positions.If it were me, I'd probably push for mediation as soon as possible. 

If you know you are going to 30+ properties quickly I would choose the PMS based on that rather than where you are now.

If the property is worth $400,000, a note buyer will base their maximum ITV Investment To Value on that value.