To scale, replicate this winning formula in similar markets, optimize operations for Section 8 tenants, and consider networking with like-minded investors to uncover new opportunities and partnerships.

So your 35% operating expenses makes sense and seem plenty conservative to me.  

@Matthew Drouin had a great reply:"Typically 50% of revenue is going to go right to operating expenses on small multi family. 

In my opinion it is a very unethical organization.

We complete renovated and turned into a successful operation with a current 11% rate cap. 

Feel free to inquire about their staff qualifications if it's a larger organization.2.

If you are organized enough to forsee hang ups and talk with your GC about potential challenges on a regular basis, two brains are better than one.

Commercial Revenue Generating properties like office buildings, apartment buildings, retail centers, etc (banks call it "CRE" lending) are typically evaluated from their net operating income, not gross.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Or is it a situation that the company insuring the property has not obtained appropriate licenses to operate in Ohio, therefore I won’t be covered in case of a disaster?