I believe you mentioned  it would but did you deduct from your gross operating income: vacancy (at least 5%), accounting, advertising, cleaning, insurance, lawn care/snow removal, legal, maintenance/repairs, management, cap expenses, taxes, utilities, c.o. fees, license? 

So maybe $800 per year, or $70 per month.During winter snow removal is $75 per snow. 

With a SFR (or 2 in this case), often tenants are responsible for lawn/snow care. 

He is an older man looking to sell all properties because of his age.Example 1 - LP:$114,900Both units occupiedRent 700 Each unitTenants pay all utilitiesPM charges 9% in my area and handles snow removal/lawncare 2 bed 1 bath units Insurance $725 a yearTaxes estimated $1900 a year Rough CoCROI 18%Depending on numbers/downpayment and suchAny other questions ask away!

The HOA has a pool, spa, club house, tennis and snow removal.

I love it, no more snow lol.

You can come home with snow-packed eyebrows.  

Proforma of increasing all rents to $475 would show gross income of $364,800Income:Gross Rents - $342,180Vacancy (5%) -    -$17,109Laundry - $7,246Total Income - $332,317Expenses:Taxes - $37,482Insurance - $11,906Gas  - $1,250Water - $42,983Electric - $2,492Trash - $2,192Maintenance and Supplies - $33,302Lawn and Snow - $4,855Cleaning - $1,688Misc. - $1,735Professional Fees - $2,191Total Expenses - $142,076Net Operating Income - $190,241This shows a 9% cap rate.Had a few questions. 

Here are the high level numbers – mostly based on my own estimates being a recent owner next door:$119K Scheduled Rent$93K Actual Rental income$9K Mgmt Fees (9%)$20K RE taxes $15K ($50/unit/mo + $200/mo. exterior lawn/snow)$9K Insurance (This is an est based on my 7-unit costing $3.5K)$15K Utilities $5K CapEx/reserves$20K NOI (of course they provided a much higher NOI estimate)Feel free to question my assumptions, but the real difficulty I’m having is assessing what vacancy rate I should assume in valuing the building.

Then we have the start of winter, pretty snow falls, it's so nice, for about a week.