My goal is long term buy and hold.Purchase Price = 355,00035% down (lack of comps) = 124,250Closing Costs = $4000Rent = 4400/month (26,400/yr)Expenses (assuming 50% rule) = 2200/monthNet Income = 2200/monthP&I (5% 30 years) = 673/monthCash Flow = 1527/month (18,324/yr)Cap Rate (26,400/355,000) = 7.4%Cash on Cash Return (18,234/128,250) = 14%The seller's internal pro forma numbers have it at $1797/month cash flow (4% vacancy, 4% maintenance, 8% mngt) for a 10% cap rate and 16.82% COCR but to conservatively I am using the 50% rule.I am quite busy with my own business so don't really have the time to do renovations and manage myself which is why I am doing a turnkey.

Running the numbers using the BP rental calculator, I am using some conservative numbers.  

I am using it to manage 80 units with minimal issues.  

Biggest reason I am using those is because that's what the sublease currently is. 

This would free up cash flow to speed up your acquisitions of additional properties and give you a rental right out of the gate.I am using my VA for a triplex, where we will live for a year and then buy a house (using FHA) to live in for the long-term.

@Andy Rousch Branson is like old-people Vegas in the Midwest...except instead of gambling they have an excess of theatres, and amusement parks hahaha.

I am using a HELOC on my first duplex to help supplement me on the second property.

I find the constant reference to Loan To Value amusing.

I am using a combination of my savings and hard money to pay for the property at a high-interest rate.

I am using this discussion to request for your input in which city I should primarily focus in for out of state investing.