I am 5 deals in and not sure if the numbers make sense to continue. Is there anyone that has a a formula to provide or would be willing to briefly chat to assist?

We kept our heads up, knew it would eventually sell, and continued to ‘keep our heads in the game’ by listening to Bigger pockets podcast daily, reading realestate books and analyzing deals.

If you find a real estate attorney, they would likely have some forms available that they have previously analyzed and used for a different matter and can customize it to fit your needs.

Let's analyze it for a moment.You've got a partnership, so I'm assuming you're buying in an LLC.  

The 50% rule covers expenses that are related to the property, not HOA, Property Management, or Debt expenses. Do those unrelated expenses get factored into the NOI?

For me it’s really analyzing deals daily and making use of the calculators here on BiggerPockets.

Try analyzing some different types of deals to see if they make sense.

I guess the problem that I’m having is my cap rate is coming back close to 12 so either I’m analyzing this incorrectly or this is a great deal.

I don't know how to analyze this bad boy.

I use this a lot for location based discussions: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingI find the calculators are very helpful when analyzing deals!