Hello@DB Brooks I am going to assume that your goal here is cashflow so if I am wrong in my assumption forgive me.

I can't say what their assumptions were.As we all know from our education or being on BP, there are steps to buying any asset or investment. 

I ALWAYS include sensitivity tables, on as many variables as I can (rent growth, appreciation, expense growth, sales price, ect)The fields where you also make assumptions (capex @ 5%, interest rate, ect) I would break each of those out as a separate column to calculate from so that you can easily change the assumptions to test different scenarios.

I note on the bottom the assumptions, such as source of rental rates and the expected mortgage terms.

Tenants that are living for free tend to not want to give up their gravy train so to speak so you need to evaluate the deal based on the assumption that they will not leave quickly and quietly

Assumption is the enemy.

@Sean Tracey One major assumption of your plan is that 3-4% withdrawal rate at early retirement.

That is a good point, Jacquelyn Sarpong, I was under the assumption that assignment contracts were the better options because its a smaller contract, and you don't have to put down any earnest money.

Your assumption is correct.

This is a clear example of how you can come up with a valuation of something drastically different, all based on your assumptions you use.