Honestly, I would not be so close to walk away.

If a deal doesn’t meet your criteria, don’t hesitate to walk away.4.

At yet another sale there was a brick row house/town house for sale that looked good from the street, but since it was in the middle of the row, to see the back of the house, you had to walk around the block and see the house from the alley, where the entire 3 story brick back wall of the house was laying in the back yard, and there was no back wall standing. 

Meaning walking the home, seeing what needs to be done to get rent ready and completely managing it from start to finish?

I would highly encourage paying a GC to walk deals out the gate, have them give a scope of work so you can see what items costs.

I'd be surprised if the complex doesn't have individually metered units so you may be able to eliminate the utility expenses unless those are for common areas like walk ways, parking lot or laundry.

This is not yoursituation, but just to walk through the different thought processesin Holding/Selling that a friend of mine is going through.Helped my friend getinto the Self Storage business and walked him through the wholeprocess from evaluating the market, selecting a site, developing thesite, systems, financing, insurance, etc.

Sometimes I actually walk away from the deal - Not All Creative Financing Deals Make Sense. 

Whalen will get nailed.. you cant steal millions and just walk away. 

It is not walking distance to much but a short drive to a lot and generally a touristy area.