They are more likely to understand the same real estate calculations that you use to evaluate deals.

I wish you the best of luck as you progress.

I'm typically evaluating properties in the 200+ unit range.

I understand the basics of business and hope to get better as time progresses.

Maybe offer to walk him through the rehab process as the project progresses?

That us NOT an appropriate or accurate means to evaluating repair estimates.

I hope the comments have helped you to evaluate your performance and attention to details and less on the emotional reaction of the buyers (this will continue to happen!).

I'll provide semi annual reports with bank statements showing my progress accumulating the refinance monies and also detailing what work is being done to the property and/or ongoing maintenance/upkeep.

If I use your numbers but add property management cost to be able to evaluate as a pure investment I get a cap rate of 5.9%.

Still, it’s good progress and a testament to what persistence and good old fashioned networking can do!