For rough Pro Forma DD, I'd pencil in 35-40% and go from there. $5k doesn't get you very far in terms of onsite manager, so you'll be ding a lot of work yourself. 

@Claire Tong, 1 month/year vacancy (8% of GSR) is what I use in my pro forma analyses.

Construction timing, leasing and hitting their pro-forma numbers.

As far as other expenses, those are up to you for pro forma assumptions for R&M and CapEx, but I'm not sure why you have garbage in there; Franklin has *free* curbside service, at least at this location ("free" as in already paid for through our RE taxes).We also have the one in Northfield that we'd be willing to sell.

You can form a JV or other partnership structure and put as much or as little as you want into the deal (TBD based on the operating agreement).Regarding your specific example, 6-12 isn't that much larger than 4 units.

If you want to know what it is worth after you make improvements you would use pro forma NOI / cap rate.

Pro-forma 2% vacancy and rent growth at 4 to 5% each year which is BS long term.

Only Realtors have the disclosure form.  A

I could do hours of "research" on the ol' interwebs, build pro-formas, but still end up thinking "yikes" driving through the neighborhood before I even reach the property.Just search for the best BBQ joint in the town and make a weekend trip out there to eat and drive by the place.

Can I simply have my partner on the loan like a cosigner or do we have to form a LLC  prior to purchasing a property.