The information contained in this post is not to be relied upon.

I mainly want to ask if these assumptions are reasonable and if there's anything I haven't considered:(1) multifamily units in NJ close to New York City, ~$1,000,000, 20% down payment, (2) Using the following assumptions: 4% appreciation rate, 6.5% interest rate and 5.0% refinance after 5 years, $10,000 yearly maintenance fee(3) ~$6,000 monthly rental and assume 3% increase yearly with 5% vacancy rate(4) Based on the above, the calculated IRR if selling at the 10th year is ~19% (considering tax benefits) and ~17% (without tax benefits).

Quote from @Casey Graham: @Corey Conklin thanks for the follow up on this and the confirmation it's workin. 

Hello Doug, I am not a real estate attorney nor is this legal advice.Unless someone's state has specific laws banning contract assignments you should be fine doing the following.  

Deny the ESA.

So it helps keep the turnover lower.

These are the numbers behind the numbers, so to speak. 

You can always lower the rent if need be.

He's doing another session again this following Saturday.

The laws protect vs detract the operations.