This will give you the chance to see how well you work together before committing to more overhead.

Now this property is in a class C neighborhood with a calculated 11% cap rate estimated.

But it gives you a chance to get a fresh start....make your place nicer, replace appliances, new paint, get rid of carpet and replace with LVP, Etc....

As I take in the advice from Charles, Joshua and now you, sharing your insights, looking at smaller deals might give me the chance to still syndicate while building a track record and achieving proven success.

I assume there’s zero chance you want to be the buyer of thsi deal.

An agent should be able to send you a estimated proceeds sheet. 

The calculator estimates that operating expenses are equal to 50% of the monthly income.  50% is a rough guide. 

But balance is key—keeping some cash reserves for unexpected expenses is critical.Lastly, I’d recommend running detailed numbers to ensure the property cash flows well, even with conservative estimates.

That said I like to be able to run year end reports with an estimation of tax liability so I can provide financial statement information to investors/etc.

Analyze potential deals by estimating the After Repair Value (ARV), repair costs, and total expenses.