It seems like a good way to get extra cash flow with very little work, plus with only 20% of these tenants actually exercising their option to buy, I'd still keep my rental house. 

It has to cash flow after all expenses or you're just buying someone else's money pit 

Overseas investors you have extra cash flow withholding.If I was a seller the only way I would take a chance on something like this is if the buyer wires in non-refundable EM from the start and they were paying a below market cap rate for the property.

As a landlord, with positive cash flow it is difficult to agree to sell the property.  

So a buy n hold REI that barely cash flows could be cash flowing hundreds of dollars in a few years.

I know this property will cash flow very well, and ultimately I would like to hold this property in my portfolio. 

I have done a lot of analysis on MLS listings including the more detailed Frank Gallinelli version of using NOI and cash flow to derive IRR and shortlisted 4 multifamily units from 100s that I looked through that I want to pursue and which offer a good COC and cash flow per unit.

My plan is to purchase a few turnkey properties, use the cash flow to pay down their respective mortgages, then 1031 exchange them into a MFH complex.

Then I would focus on wholesaling to have consistent monthly cash flow and add a few fixer uppers throughout the year.Good luck!

Rood and siding is in good condition, and the first major expense I see in the next five years would be replacing all windows. with a 15 year mortgage, at 5% (I'd rather budget high than low) cash flow would be 6056/year.