Do you know if these are real numbers or just pro-forma?

Interview 2-3 office landlord brokers and 2-3 retail landlord brokers who specialize in your submarket, be sure to ask for lease comps specific to the product type they would recommend and run a pro-forma for each Scenario.Then hire the team who’s recommendations align with your own independent analysis.

I'll be sure to reach out to my attorney prior to submitting a LOI - Coming up with a basis for a strong property valuation wouldn't be too difficult, but I'd like to get the property under contract prior to investing any amount of time and money into a nice presentation with initial architectural renderings, market info, and proper financial analysis (construction and operating pro-formas).I'm looking at this as a "chicken of the egg" situation.

My more detailed Pro Forma, still conservative, is showing me projected NOI of $24,341.18. 

If it were me, I'd want to see some pro-forma's or other numbers on paper that could be heavily scrutinized. 

I would also put together a pro-forma based on potential rents to be collected with proper underwriting which would include income and expenses such as management, reserves and replacements, a vacancy factor, taxes, debt service. 

After 2 years I would have to refianace out  or it turns into a balloon payment ( balance remaining at target date)based on the 50% rule$2600 monthly income- $1300.00 50% for expenses -$1,193.91 for monthly payment$106 cash flowWith using the Calculator Income: $2600-$130 5% Vacancy  -$130%5 Cap Exe0% self management -$52 2% Maintenance ( based on what the pro-forma says) -$500 HOA-$127.25 Property Tax-$1,193.91 for monthly payment$466.84 Monthly Cash Flow

Price = $118k, seller pays closing25% down 30 year @ 4.5%Repairs = $3,000Monthly Income:$1,400.00Monthly Expenses:$1,269.50Monthly Cashflow:$130.50Pro Forma Cap Rate:5.89%NOI:$6,947.00Vacancy:$70.00Repairs:$84.00CapEx:$150.50Insurance:$67.00Management:$112.00P&I:$448.42Property Taxes:$279.58

The only thing you need to do is run a simple pro forma on every possible option in your target markets to get a feel for what you can expect.  

I was going to get my agents license, form a llc and continue to self manage my properties that way.