I have an automated pro forma that calculates direct expenses (PITI) and indirect expense estimations (10% Maintenance, 10% vacancy).

Even if it is as simple as opening a door.Build pro formas for each property with their specific costs and see how they perform compared to each other.  

I would really appreciate your opinion on these numbers. I'm banging my head against the wall. If anyone has done a project like this can you tell me where my assumptions are wrong. I'm looking at a brownfield lot in ...

While analyzing a potential deal, I'm creating a pro forma and wanted to see what expense line items that I'm potentially missing. 

I would add that Ben Frederick uses very optimistic numbers in his pro formas.

On top of that, the pro forma financials had ignored vacancy rates and only had $2,500/year budgeted for maintenance. 

How to you form a buyers list?

If you're talking about one large facility, (or any other, really) what I have seen is a very detailed pro forma done by companies that specialize in this particular field along with a pretty good market study of the area, and pretty solid assumptions.

I am puzzled why you would want to form a corporate entity and then buy the proeprties in your name.

Does it make sense to form a Business LLC or just a business for tax purposes plan on doing a couple more of these and see where it goes?