And the units are identical.  

I have wanted to buy something in this neighborhood for a long time.I have networked with someone who is recommending setting this up as a rooming house, no leases but billed monthly (not weekly).Here's how it pencils out:Purchase price: $100,000 // +$5,000 for conventional mortgage closing(An identical duplex on the same street recently sold for $123,000)Initial renovations: $5,000Rent:$500 x 8 = $4,000/monthIncome - Coin Laundry:$200/monthTotal income:$4,200Monthly Expense Breakdown:Debt service: $800 (P/I/T/I)Management: $400Repairs: $400Capex savings: $400Gas: $150Electric: $150Water: $150Internet/Cable: $150Vacancy: $750 (planning on 1-2 rooms empty a month)Total monthly expense:TOTAL: $3,350Cash flow:TOTAL: $8,500QUESTIONS:1) Do these numbers seem conservative?

. - the word "conditional" ;)You establish the conditions under which the release is to be executed; one condition is that your new buyer and the seller enter into an agreement identical to that which was originally in place (except for the name of purchaser of course), another condition being the amount of compensation of course. 

FWIW:  The reason I'm interested in this unit is because I already own an identical unit in the same building. 

.$70,000 out of pocket v $12,250 out of pocket (let's pretend closing costs are identical, so only the down payment changes).What is the cost of keeping that $57,750 in your pocket? 

Most comps on the street are hovering around 200k, and this almost identical house recently went for 350k.

@christopher phillips My realtor sold an identical house on next street over 8 weeks ago for 131,000 but it needed updates a roof and Windows.  

Here, maybe this will be interesting/helpful to you - I am currently working on doing this right now with my own property, which happens to have a nearly identical loan amount as yours, and there is $50,000 in equity I could refi out.

At $22000 annual rent and 55% expenses that gives an NOI of $9,900... nearly identical to Todd's.

One of the units' rents had just been raised to $1100/month, and all units were identical.