Which sounds great, but can be a real nightmare when the city does a half arse job of doing it, cutting irregularly, getting rid of any flowers or plants you might have put in, not allowing bike racks in front of business.

., NORTH SYRACUSE, NY PARK LANE APARTMENTS 16 ONE BEDROOM APARTMENTS 32 TWO BEDROOM APARTMENTS RENT INCLUDES HEAT AND HOT WATER LAUNDRY ROOMS – 8 NORTH COLONY TOWN HOUSES 20 TWO BEDROOM, ONE AND ONE HALF BATHROOMS BASEMENTS WITH WASHER/DRYER HOOK-UPS TENANTS PAY ALL UNTILITIES WATER IS SEPERATELY METERED (TENANTS COULD BE BILLED FOR USAGE – NOT CURRENT POLICY) CONDITION OF PROPERTY: PARK LANE: ROOFS NEED TO BE REPLACED WINDOWS NEED TO BE REPLACED NEW BOILERS WERE INSTALLED IN 2009 DRIVEWAY NEEDS TO BE RESURFACED ALL APARTMENTS AND COMMON AREAS ARE IN GOOD SHAPE NORTH COLONY: ROOF WAS REPLACED IN 2009 WINDOWS WERE REPLACED IN 2009 DRIVEWAY NEEDS TO BE RESURFACED / REAR OF BUILDING NEEDS PAINTING FINANCIALS: OFFEERING PRICE $3,200,000 REPAIR INVESTMENT FROM SELLER $200,000 -SELLER WILL GIVE BUYER $200,000 AT CLOSING FOR ABOVE LISTED DEFERRED MAINTENANCE ITEMS PROFORMA P&L - MONTHLY RENTS @ 100% $44,000 LAUNDRY COINS $1,100 MONTHLY INCOME $45,100 EXPENSES MORTGAGE - $2,560,000 @5.5% FOR 25 YEARS $15,721 PROPERTY TAXES 9,700 PROPERTY INSURANCE 1,600 ELECTRIC & GAS (2013 ACTUALS) 1,700 WATER (2013 ACTUALS) 1,300 VACANCY ALLOWANCE – 8% 3,550 ALLOWANCE FOR MAINTENANCE 2,500 ($36,071) NET MONTHLY CASH FLOW $9,029 17% RETURN ON INVESTMENT OF $640,000 A few things to note.

I'm going to have cut my rent in half to allow the restaurant to make money.

In the last year and a half, I haven't actually bought a deal off MLS.

I was thinking that maybe I could live in it and maintain it for me and a partner, but I would need a partner to put up over half the cash.

In California you can charge up to one and a half times the months rent for a security deposit.

I spoke to a woman yesterday that I talked to a week and a half ago.  

In most cases this can be around half of the cash flow!

Or, for roughly the same price I could buy two of those units completely and profit $775 a month (that's factoring in the expenses too) and hold full equity...I think your CBFT numbers are a little rosy, but let's say they are half of that (387.50/mnth), that is $4650/yr ... a 3.8% return.  

The metrics need to fit your objectives and market.I understand your reasoning for looking for rent at 3% GOI, but be advised that in many areas it will not be a reality; in our local market you have to hunt hard for half that (1.5%).