Just PM me for details. 

Details in MLSUnits: 6Taxes: $5874 (annual)Gross Income: $48,600 ($675 per month)Net Operating Income $38,838Total Expenses: $9762Vacancy Rate: 5%Asking Price: $449KOwner pays Trash & Water______________________________________________________________Based on the expenses I am assuming that the property management is completed by the owner and that they are including ~$4K a year in insurance.I ran the numbers in my own Deal Analyzer and I added:5% of Effective Gross Income as Maintenance Expense 10% of Effective Gross Income as Property Management ExpenseBumped the vacancy rate from 5% to 10%Insurance: $3000 (annual $500 per door)Water: $3240 ($45 per door - typical in city)Trash: $1,800 ($25 per door - complete guess)$12K for improvements ($2k per door)20 year note @ 5% with 20% down (assuming full asking price)2% Closing costs______________________________________________________________My numbers show a Cap Rate of 5.7%, cash on cash return of -5.12% and -$1,668 of annual cash flow. 

I will have to look into the details just in case it makes sense before i completely rule it out.

Let me clarify...Here's what I suggest when I work with flippers:Look at the listing details, have an idea of ARV. 

@John Menton do you have any details on the unit?

This gives me a snapshot of everything in one location and the details as well.

If you want to dig deeper into the details once you have the fundamentals down, find some books to study & start running the numbers on properties using the BP Calculators!

If you are set on doing this, then you should consult a lawyer to draw up a contract detailing all the possible issues (death, sickness, divorce, etc) and everyone's idea on how to handle it. 

Now we looking to go into commercial properties or buy a package of homes leveraging a loan.I like to get details on the loans avail from members here.I can give you example what we currently looking into and our situation.Credit score 680-720Cash in Hand: 60k+Own 2 LLC with multiple producing properties in each.We are looking at this 20 unit building in Detroit.

Is there an existing thread here (I assume there are many) where this has been talked about in great detail.