It wouldn't hurt to dive in deeper to uncover as many expenses as you can.

I manage a duplex with very similar numbers, and I feel that was a good deal, so I'd definitely look deeper into this one.

Feel free to PM me too if you'd like to dive in deeper. 

I needed to do more homework.After deeper dive into expenses past income, I am looking at a 10% CoC return with current ~60% occupancy.

Higher price still, $x per month in lease payments but taking over management.If they like the idea of SF, you could go deeper in the weeds with it and give them a simple amortization schedule you can get online. 

.- If it's a great property odds are it wouldn't have been on the market for awhile, look deeper into why it is still available.- If a listing agent ever got into those types of communication with my client I would have plenty to say to them and their broker or the board.

All in all, reading everything you wrote, im thinking i might just have to dig a little deeper for cheaper properties in nicer neighborhoods (as well as the rest of the RE world).  

I can try and rezone the property and dig it deeper but that's expensive and there's no guarantee I can get it rezoned.

Between the affordability and the strong rental market here in the state, there are a lot of great opportunities if you're looking to invest here.Feel free to get in touch with me if you want to dig in a little deeper about the market here. 

@Stephen Guerguy Thank you for the advice, will definitely dig deeper into that.