Ned I think you nailed it. 

It’s a little lean but a Townhome should be pretty easy to nail the exit value on because the comps are easier and there are less construction things to go wrong.  10k seems pretty low for selling costs.

Let's talk strategy, and nail down your steps to get there.

., if you can RUBS the building... then you get $7725 back (2100 water, 4500 gas, 500 garbage, 625 electric), and you are now at $8,725NCF per year... of course the RUBS costs as well.I would look at this deal more closely, and make sure you have your financing nailed down, along with a strategy for increasing the income of the building, as well as some worst case scenarios.Good Luck!

And by hole in the wall I don't mean "put a nail into it", I mean "got angry and decided to punch the wall", still not too expensive but....You'll run into people who don't know you should not flush tampons, who don't want to bother you with the leaky tub (especially bad when it's the hot water, and they keep the door closed...enjoy cleaning *that* mold out ;).

@Brad WallaceBrian nailed it.

I think @Mike D'Arrigo hit the nail on the head. 

I had to look it up, but you nailed it. 

@Nuhan Demirkan pretty much nailed it.  

We even had home depot call us each time our contractors were purchasing items, but do you really want to hear about all the nails and screws they are buying?