With NNN there is no reduction from operating expenses so monthly NNN x12 should equal NOI. 

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

- How would one run the numbers on a mid term rental when it comes to startup costs, rental rates, and operating costs?

Then you invest that money in a super secure, no risk note with an operator who is already underwater on their original note.

On top of that, you’ll want to budget for ongoing expenses like property taxes, insurance, operational costs (such as utilities and property management), and maintenance.

I can give you insight to their operation

They are also getting a seller's concession which will keep their acquisition costs down.The deal will cashflow from day 1 after debt service and ALL operating expenses. 

Unless apartments are just not as marketable, then a multifamily building is likely the most efficient for construction expense, operating expense, and rent/SF.With a building of only 12 units, I doubt you'll see any time-based advantage by phasing in duplexes.

(especially for those involved on this website)The reason I mention if it matters on this website is because most are real estate investors(long term buy and hold) and will most likely operate at a tax loss which doesn't have an impact on taxes.The second point is, will you invest or not invest in a good investment because of what your tax rate is?

Always the day of, I don't trust others to comply with all rules.