Devan, it sounds as if you may want to investigate the property further before preparing a pro forma.

This GRM seems high from an investment perspective but seems to be the norm in the current climate, especially in Portland where I've seen GRMs as high as 17.What has made this a bit more difficult is that the agent I've been working with has not been able to provide rent pro formas for surrounding properties so I'm manually evaluating the rents through Craigslist, Rentometer etc. to see if there is room for an increase.

I am thinking a house hacking but it's with the house that I already own.....1) can I form a business, have the business buy my home from me (or just let it "assume" my mortgage) and then pay rent (at fair market price above my current mortgage) to the business (corporation) as I use the general numbers (cap-x, management fee, utilities) and depreciation advantages like a rental?

When I'm doing a pro-forma I only care about #3.

Pro Forma has it potentially generating $197,000.

He's claiming 35% of gross income as operating expenses and breaks it down every which way but that's meaningless to me, I toss pro-forma numbers out the window unless they admit to something damning.

Okay so I am new on bigger pockets. I am sorry there is no profile picture, i tried to add a picture and there are some technical issues. Anyways one of my main goals is to get into rental property , multi family. I w...

Because he did not she went on to form a business model of illegally subletting property she didn't own. 

I've gotten a pro-forma from the seller and it looks like an 8.6% cap rate. 

Hey Nabeel,I started out looking at turnkey providers in Indy as well but, I soon discovered that there's not much meat left on the bone when you buy certain turnkey properties in terms of equity gained either from finding a good deal or forced appreciation along with overly optimistic pro formas and lack of communication with the few that I contacted (not true about all TK providers, only the ones that I've dealt with).