I understand the market is pretty competitive around here but we are optimistic we can find a niche and make this successful.I had my RE license years ago (before the internet!)

Your Expense amounts are too optimistic for a Proforma analysis.a. 

You would also be require to put at least 25% as a down payment.Your numbers are more optimistic than conservative.  

The return on this property look fantastic.Taking a dive in the expenses you are projecting, I think you are being very optimistic on those numbers.A 1% vacancy rate is very low and very hard to achieve.Same for your Capex and repairs expenses.It is best to be more conservative.

People who think they make their gross income are often overly optimistic, people who think we use their AGI (such as yourself) are often more cynical than they need to be and give up without even trying!

To VERY OPTIMISTICALLY break-even you need to knock $575K off of the asking price.

Their overly optimistic goals in 2014 were to hit 10,000 agents by 2020. 

If I can get it as a turnkey, then even better (but I'm not too optimistic about getting a discount).

Yeah, I was not too optimistic.

I think this is a good deal but I definitely went in overly optimistic with everything.