The controversy is how to do a preliminary estimate of CapEx in the early stages of evaluating a property.Upon scouring the internet, podcasts, and picking investor's brains, these are the options to do an early estimate CapEx: Use 5-10% of GSI (however, I've seen as high as 15%)$200-$400/month per door$/month per unit - this is all over the place ($50-$800+)Calculating all CapEx items savings per month$0.67 per square foot/yearMy limited criticism for each method:Most common recommendation I find is 5%.

I have a place off Cliffdale-very convenient given all the new shopping centers going in.

For me cash flow is king at this stage in my life.

They have offered to compensate me out of contract, because they "want the numbers to stay where they are" someone I know, knows the tenant which i didnt know until recently, they are the one who informed my agent and I of the appeal and the lack of military service, she showed me the court documents that the seller and her agents have still not shown us, The person i know that knows the tenant said he HAS NOT been staying in the apartment in fear that the courts are going to find out hes not a veteran and have the sheriffs come arrest him as the court is paying the tenants weekly rent because he's an unemployed scum bag who lied about being a military veteran, She's also told me that he has signed a new apartment lease somewhere else and she has offered to and has started helping him move his stuff out of the apartment.I forced my agent to get back under contract yet again, she made the close date for tomorrow Friday the 13th of all days, the guy still isnt out of the apartment fully(meaning all his stuff) there are still random people answering the door who are not on the lease who are missing teeth left right and center. still no walk through. yet, everyone still expects me to close tomorrow, I'm telling my agent, NO let me guess, contact an attorney?

I am just curious, at this stage, to see if he's going to make me ANY money by December.

I would actively look at the broker/local investor route as it is easier and helps you be more efficient esp. at this stage of the RE cycle where everyone is demanding more than what their property is worth.

Love reading about people jumping into apartment syndications in their early stages and very nice increase to market rents. 

It's also right near the hotspots of the neighborhood and it's asking price is smack dab in the center of your price range.

That said, it sounds like you're past the stages where you're considering this property and have already acquired the building so I won't try to talk you out of it.

The location is fairly isolated from they key employment centers, there is really no reason for good tenants to want to live there.