So, here are a few websites and tips to help form a general idea of a particular property's market value and its investment value.Shelby County Assessors Website - http://www.assessor.shelby.tn.us/content.aspx^ This website will give you the assessor's opinion of what the property is worth and it also provides a tax calculator so you can calculate the city and county taxes.

Are these actual operating expenses, or pro forma numbers?

I've done a lot of reading and understand some of the basics with GRM, NOI, cap rates, cash on cash, pro forma's, etc...

Purchase Price $650,000Down Payment $130,000Loan Term 25 YearsInterest Rate 4.50%Principal & Interest Payment $2,890Closing Costs $5,000Gross Scheduled Income (GSI) $62,400Vacancy Rate 8.00%Number of Units 8Pro-forma Income Statement & Cash FlowGross Scheduled Income (GSI) $62,400Less Vacancy $4,992Total Actual Annual Income $57,408Gross Operating Income (GOI) $57,408Annual Operating ExpensesAccounting $100Utilities (gas and water / sewage) $5,000Landscaping / Snow removal $2,100Maintenance & Repair $4,000Property Insurance $2,000Property Management $0Real Estate Taxes $6,000Total Operating Expenses $19,200Net Operating Income (NOI) $38,208Annual Debt Service (mortgage payments) $34,684Before Tax Cash Flows (BTCF) $3,524Key Operating RatiosCapitalization Rate 5.88%Cash on Cash (COC) 2.61%Gross Rent Mulitplier (GRM) 10.42Net Income Mulitplier (NIM) 17.01Debt Coverage Ratio (DCR) 1.10Expense Ratio (ER) Per Unit 33.44%Price Per Unit $81,250Acceptable deal?

@Jon Klaus  I need to see a pro-forma ;)

If everyone teamed up to form a single group/entity, that group would have nearly every certification and license required by any law to do anything real estate related.

I would also try to get them to sign a notice to vacate form as well.

But local banks are always the best way to form a real relationship and get on track to have access to conv capital faster.Good luck

"Pro forma" = pretend.

The end goal is to form a developing company, and in order to achieve that I am planning to gain experience and capital through fixing & flipping real estate.