@Heidi Dunn, this is a huge red flag to me.

They apparently manage almost 300 properties, which was kind of a red flag to me because there were only 4 employees.

If you're putting up 100% of the capital and they have no skin in the game that's a red flag to me.

You're starting off in the red, your only option to be the least in the red is to raise rents as much as possible as fast as possible.Using your numbers and some other assumptions such as starting at 900/mo rent I get a 7.24% IRR.  

@Michael Vallee, I wouldn't have any trouble getting that loan financed as a broker if no red flags popped up.

Sounds like you would have no control... first red flag

Some will have a lot of kids who get out of the car drinking red pop and eating chips.

Don't invest in Europe.It doesn't work like in the US.Prices are way too high, rents too low, they will tax you to death on rental income(Portugal is 28%, Germany is 40%) and there is red tape from here to Mars.

Again you and your broker will know Ohio better than me but from a macro perspective my knee jerk reaction is you should push for 9-10%.Lastly you said the building has sat for a year, major red flag in such a hot market.

I'm developing land in Redding, CA. 21 homes total, and wondering if anyone has advice or connections on getting the best deals on materials, appliances, things like fireplaces, ceiling fans, basically anything and everything that goes into a house.Looking to use a little hustle to build these houses piece by piece, getting great deals while keeping our style intact.Looking forward to any help I can get!