So, you're at $1,480 a month less vacancy, cap ex, etc.

Was it a rehab, what type of loan, cap rate, cash flow...anything and everything you'd like to share would be appreciated.

@Nick Alvarez@Anthony Chara  market is over heated here on Multi.. especially close in.most trade at 4.5 to 5 caps so a 6.5 cap would be somewhat adjusted for the deferred maintenance..  

Sure Cap Rate is important, but constant turn over, evictions, and repair costs are often a bigger loss to income versus buying a lower cap rate property that rents $1500 range. 

Your comments regarding BoA, Chase and Wells Fargo are correct - low fee's (especially for online transactions and wires etc), a great online site and 24/7 helpdesk are the features I'm looking for.

Not excited.I ran the BP calculator, plugging in numbers as best I know, and my Cap Rate is about 6.75%.

. ;) Every time someone mentions manila I'd know, you might want to check that feature out: http://biggerpockets.com/alertsAnd yes, you should visit the Philippines soon, especially Cebu!

For the sake of argument let's just say he's got a Loan to Value (LVT) of 85% at 3%, but the property could bring in 8% cap (Capitalization Rate).

your cap rate is great.  

They are underwritten as a commercial loan based on 1.20X DSCR and do not run into the FNMA 10 property or FHLMC 5 property cap and structured as a 25 year amortization with a 7 year adjust.