I work with numerous out of state investors and some out of country even.

The CoC is just a fraction with the annual cash flow in the numerator and your total investment in the denominator.

It is also likely there have been numerous water leaks over the past 10 years or more that have further damaged the electrical system by causing unseen corrosion of conduits and boxes, potentially with water penetrating into the conduits and accumulating in low spots.If some/all of the above is accurate, your Board should have been well aware of the condition of the system, especially visible components such as the meter boxes.

We have had numerous units in both markets.

I have closed numerous of these in the past months and most of the clients are able to capture a 10% COC return.

I've had numerous clients start with condos and townhomes and they can be a very approachable first investment.One thing I didn't see mentioned here and will be a question for your loan officer is your max payment.

@Eric JamesOkay well this thread was for people that are giving me valuable feedback on my idea that i had from numerous videos i watched on how others did it.

This is really just a sample of the sheer amount of business and opportunity coming to the Triangle area.

I've encountered this numerous times...Shingle-like metal may be another story, but I am still leery.  

I have taken numerous courses, attended numerous conferences with hopes to attain the knowledge I need to invest.