. = 500 per month.}Obviously these are accurate numbers but it’s roughly the Idea.

As two people pointed out you need to make sure all the expenses (other than debt) is accurately reflected in the NOI.

Yes, the financial data is mission critical and must be secure, auditable, and accurate, but the non-financial data is more important to daily operations.

(There were some fine points to this which are a little vague now, but it is pretty accurate)Also, in my experience, a Standard Purchase Agreement (or whatever your local RE board calls it) has a section that spells out who is the CLIENT, and who is a CUSTOMER.

It would probably be easier on the closing attorney/title company to give them some time to prep closing docs accurately though.  

Laurens,I don't think the expenses are accurate.

I just found the local government recorder/fiscal office and have been looking up the properties we are eyeing...The state has the property we are most interested in appraised at 70,000. The owner is selling it at 95...

It is not accurate and not good way to get values and comps.

Does anybody have any suggestions about what questions I should ask or information I should gather before we decide to proceed with the investment?

rentometer gives estimates that seem fairly accurate.