One way to go is each form a LLC, then your individual LLC's are members to a multi-member LLC that take title to the property. 

Letters sent to me without an invitation to meet and form a relationship do absolutely get thrown in the trash all the time.

Pro Forma Cap Rate.  

Thanks for that explanation, differentiating commercial NOI pro formas from residential.Nevertheless, every residence HAS a cap rate and NOI comparable as a percentage of its purchase price - whether investors would find it useful or not!

A large part of the initial advice I provide people potentially interested in buying a vacation home here in the Orlando area is built around pro forma statements that we have created based on actual rental incomes and expenses.Feel free to private message me if you feel that I can help you.Keith

If a number is a round number or looks to good to be true then you have to dig in and build out your own pro forma for expenses.

I'm seeing reasons to/to not form a corp - tax benefits and asset protection, basically.

The simple answer, you put together a pro forma that will outline all sources of income and expenses, CoC, ROI, etc.

I don't trust the agents pro forma.

Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.