Best way to find local CAP rate is to talk to commercial realtor and ask them what it is, or see what other properties have sold for recently, but you would need to know their NOI. you can't assume the percentage for maintenance ( not just maintenance, utilities, taxes, water, sewer, etc to determine your NOI ) you have the numbers, as inconsistent as they seem to be, some should remain constant, those that fluctuate try to use an average.

I've been talking about it for a good while now, but never initiated to start gathering vital information until now.

Talk to Steve and see what's going on with this parcel.

Thanks Joe, This tenant originally tried to purchase the property with a contract sale - to which we prompty said "No".He keeps talking about purchasing the house - we suspect he cannot afford it though.

Sometimes settling gets them out quicker and sometimes settlement talks are something a deadbeat tenant is using to delay.  

So lots of handholding and deal making, just talking endlessly about options and work arounds till you get to closing.

Tell me why this is a dumb idea, but let's not get lost in what-if's.Lastly, who are the professionals that I can talk to, to make sure that the work I'm doing will result in a property that is bank finance-able?

You don't want your potential buyers talking to the seller.

Email us some dates and times that you're available (preferably after 5 if possible) so we can talk.

I can talk to you about my strategies and how you may get started.