If you do great with your first few deals, you'll have the room to stretch and risk a bit on your future deals.

Happy to hear the project is coming to a close, I know how difficult it can be in the final stretch to close out a job.

.$0 in repair costs is a stretch- especially if you plan to increase rents...you'll need to justify the higher rent and that typically means improving the condition of the property = $$Your upfront equity position isn't great, but it looks like you'll start with a bit of equity...and if you decide to improve condition you can force the value as your NOI increasesBoilers are find if they are modern...looks like yours was replaced in 2017- definite positive5.3% on the loan doesn't look too bad...your DSCR is 1.15 ...most lenders will require this to be 1.2++ Vacancy is relative to your local market...not sure 5% is the right number to use or not...I look at CapEx different for year 1 and consider it an up-front out-of-pocket expense...but it looks like your units are in good condition so 5% may be right...maybe high...Water and sewer (and other utilities) seems low to me, but it's specific to the area...and maybe just for common areas?...

You might need to get with a credit union or smaller local bank bc to get $70k for repairs will be a huge stretch.  

Better to be conservative with your numbers than try to stretch them to make them work, ya know?

They do sound to be on the higher side and a bit stretched out. 

Best part about investing is the ability to stretch your funds with the best bank financing available.

In my non-attorney way of thinking, if you participated in the construction/design and had your crew doing some work, it might be a stretch, but I'd consider a mechanic's lien.Is the 'IOU' they gave you in the proper form of a promissory note? 

However, by no stretch of the imagination do I think I know it all or an expert.

I understand it all comes down to the seller accepting this but if 10% is more common and would help me get this deal I can maybe stretch to a 10% down payment.2.