Attached are simple pro formas of the property, one at the current rents and vacancy and then the numbers after I execute my plan.

I included CapEx into pro-forma.

So our pro forma estimate will give people the raw numbers they need to then draw their own conclusions.For my personal portfolio it depends on the age of the property, and how much work i am doing up front, i dont use a fixed number the variables are too great to apply a one size fits all number.As for cap rates, i feel like i answered your question.

A 'pro forma' Contract should suffice, as long as it is worded in a way that gets you your deposit back if you don't like what you find during the due diligence period.

Congratulations @Lian Chavda Fortunately you have a REIA in your area where you can go and meet like minded (btw check out the events on here to see if there is a BP meetup going on in your area)Just do it (you're close enough to OR), Keep it simpleyour namewhere you livewhat kind of Real Estate niche you're looking to be get intoIn our REIA meeting which is very well attended, we have a 15 mn" networking break" , different areas of the room are assigned for each county as well as a spots for MA and another for RI investors to network.

Saying material prices fluctuate beyond cost of living guesses in a pro forma, so there should also be a +/- factored.This is simply one model, no a rule not even a consistent theory, we don't have any SFR that rents at 2% in the area.

Most of the time the members form a clique and dont know their *** from a hole in the ground and then get butt hurt when someone questions decisions that are made. 

I understand it is "pro forma" but am having a tough time with the following...Are the expenses for a specific time period?

Form a business entity and have the lease written between the business and the landlord.

Or is it Pro Forma?