This is our "8 x 8 project" - there, I've said it out loud to remain accountable! 

The property is in a rural area, so I'm trying to project how much demand there is. 

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

I'm looking to finance the project long term in a way that is helps me create positive cashflow.

Has anyone done such a project before?

@Matthew DrouinThe one I'm looking at right now is a smaller 8-unit project - only around a $100-125k equity raise + loan guarantee.

You may want to adjust your criteria a bit and sacrifice projected cash flow for stability and projectability.All the best to you in your investment journey!

These syndication can provide an 8%+ cash-on-cash return - providing investors monthly cash flow - and a 15-20% IRR over the length of the project.

And banks dont care about our math projections and how hard do you want to work to prove your math projections..

I realize you're starting out so it may be a while before the lucrative legal projects appear but if you enjoy your field they will because you will get very good at it.