I can give you contact info if you want to inbox me.

If you meet people that are operating illegally and KNOW it, they generally hide in the shadows, avoid giving out much info on themselves, and are kind of like cockroaches that scurry from the light.

@Kyle Mitchell if you're interested just message me and i'll shoot you the info. 

If I left any assumptions or info out let me know!

You haven't given enough info to comment on the deal itself but I'll say that the financing sounds pretty good.

If you'd like, I can provide you with the contact info of the loan officers who gave me the best deals.

Thanks for the info Jack.I'll see what can be done about the principal on that property, keeping in mind what I've read and what you told me.

Clever Investor is solid info.

They did give you a nugget of info that the current owner is wanting to make another investment now...sounds like they will be slightly motivated.It's possible I misread your post but it appears you included debt service in your NOI calculation, which debt service is not an expense included when calculating NOI.Here's how I calculate NOI: NOI = $2,875 - $191.67 - $733.33 - $220 = $1,730 x 12 = $20,760At the 8.6% Cap Rate suggested by your realtor, that's $241,395.

If you think you need any further info please let me know.