I'm ultimately trying to maximize my cash-on-cash return, so I'd like to put as little down as possible.  

I'd recommend reading through The Ultimate Beginner's Guide if you're looking for a solid overview of REI.

What is your ultimate goal or what was your short and long term intensions when you first invested in RE?    

I am currently reading the Ultimate Beginners Guide to Real Estate Investing and I'm nearly finished.

Unless you can survive such an event, it is probably best to wait a bit and build up some more capital and consider taking a plunge when you get closer to $50k or more.  

So ultimately, you could pay somewhere between what it's worth based on current financials and what it will be worth on the new proforma from your better management.

The first 5 years in business about 80% of those agents that survive the first year will be gone.I was at the bank today and the teller said everyone I know coming in is saying they are getting into real estate.

Then, download the BiggerPockets Ultimate Beginner's Guide and start reading some more!!

Welcome to BP @Bryan Chung Have you already read the Ultimate Beginner's Guide?

Of course, you need to read The Ultimate Beginners Guide to REI here on BPIf you haven’t already, please read/listen to these books ASAP!