For budgeting/pro forma purposes:As the buyer what should I expect to pay in closing costs in Columbus/Central, OH?

I would like to form a business structure to operate within but not sure which is the most cost effective.

That being said, it's up to you to decide whether to work with the little guys and maybe even form a working relationship with them while dealing with the quality(or lack thereof) in their work and business ethics; or, find an established construction company that would maybe give you deals if you give them volume work or put up the money that they charge. 

I initially started with a belief that we could form a REIT but after a few Google searches it seemed like the regulations to acquire this structure did not seem attainable.

If your Spidey-sense is telling you the local market is over-saturated with rentals and the economy is trending down, then it really doesn't matter what the pro-forma numbers are telling you, does it?

So the applicant signed a contract to lease form as the offer. then we agreed to terms, signed the lease agreement and projected out about 45 days to the 1st of the next month for the lease term to begin.  

AND, according to your pro forma numbers, you'd have MINUS $10k equity after repairs(?)

@Corey BallantyneIf you are planning to pool money from different investors to purchase real-estate, then you could form a company with 3-4 shareowners and have the company purchase the property - if you are dealing with residential properties you all owners will likely be asked to guarantee the financing.If you are looking to collect monies from a larger group, then you are essentially creating a fund (like a REIT) and should consult with a securities attorney to help you understand the process and costs before you launch yourself down that road.   

As previous poster mentioned, some of those seem strikingly low. 9.75 cap is really impressive, but probably too good to be true depending on the area in which you're investing and the type of property.You can do it, I'm sure of that, but just don't hop into something with pro forma data trusting a cap rate you may never come close to achieving.

So, the pro forma includes about $6800 in rent.