I have another function that Wednesday  I need to attend.

I have walked through to make sure there are no leaks, and that the lights function.

Don't count on the seller to do your figuring, that'll make you very poor, very quickly.)The suggestions to insist upon the schedule E or the tax returns are interesting- most investors can figure out what a building needs(in terms of capex and operating expenses) and what the rents and vacancy rate should be(as those are functions of area, the economy, curb appeal, management skill, and so on,) so if I were selling a 10 unit and a buyer insisted upon my seeing any part of my tax return, I'd consider that buyer to be an irritant and I'd find one who was capable of doing their own proper due diligence.

So your telling me as long as the company isn't bought by someone else who has a slave that does the same job you do or they don't outsource your function, or the company doesn't go bankrupt and use you pension money to give the CEO a big bonus, your set for life.There are a ton of restrictions on real jobs, I was a executive for a fortune 500 company out of college and giving them 70 to 90 hours a week which is really giving them two employees for the price of one, I decided to get a life versus a real job.

The furnace and water heater were both 20 years old but appeared to function ok.  

Gross income = $11,466 (assuming 9% vacancy loss) annualEst initial Expenses: $15K totalProperty requires the following est 'rent ready' improvements: New carpet in 1 room, new back doorwall, main floor bathroom updates, new fixtures, paint, etc..No central AC; I calculate based on comps I could get $100/mo. more with AC.. est $3-5KAdditional initial expense risks: Water seems to be leaking through cinder block foundation in 1 spot... no idea how much this would cost to repair/mitigate.Furnace looks very old; city winterization report shows it was functional, however no clue how much life is left...Recurring expenses:Taxes/Insurance- $4,450 annual // $379/monthVariable cost PM (10%), with 9% vacancy loss-  $96/moI assume $500 annual expense/repairs plus $100/mo in reservesI assume $300 annual advertising/admin expensesTotal annual recurring expenses = $6,592NOI = $4,874In order to net $200/mo cashflow with PM (my own arbitrary target for my market) and yield >9% cash ROI, I need to purchase this property for $45K, assuming a 30yr, 20% down mortgage.This property would yield (with PM): $215/mo cashflow, 9.75% Cash ROI, 11.79% Total ROIThis property would yield (without PM): $310/mo cashflow, 14% Cash ROI, 16% Total ROIFinal rent/price ratio would be 2.3%thoughts ?

I am a Retail Lease Administrator with over 10 years of lease performing lease functions for over 15,000,000 sqft of commercial retail space.I also own and manage 5 residential properties and working to obtain my Georgia Real Estate license to take my investments to the next level.

I would certainly be interested in attending the next function.

Most excel programs have this function.

Microsoft excel has a function to calculate IRR.