the rent assumption is $1,800 for each unit.

What is a reasonable assumption of future appreciation?

Anyway, these are just guesses because I don't like the assumption that a lot of people have on BP.  

@Mateusz Prawdzik : I was under the assumption that converting to gas may be major expense.

In the last five years or so I've bought 1,500 units and a good deal to me is one where I can generate a 14%-17% IRR net to my investors after all profit splits and sponsor fees measured over a variety of hold periods and stress tests with conservative underwriting assumptions. 

One bad assumption and that hard earned money from your home sale could disappear. 

I went with the assumption that i was going to sell the whole parcel as one chunk, then went back and found comps for similar sized parcels and estimated a per-acre price.  

@Neil HohmannYour assumption in the preceding post is incorrect. 

These assumptions are never spot on but will come in relatively close with good underwriting and no one-time disaster (ie. hurricane, flood, fire, etc).

At 10% with the same assumptions above, your PITI would be $1093.