@Paul TimminsThanks for all the info - will dig in!

Done a solid 8-9 months of knowledge digging, reading, listening to podcasts etc...

CAP rates evaluate current cash flow, NPV looks at future cash flow.No one will be able to tell you whether or not this is a good deal based on the scant information provided (that's not a dig at you, there's just tons to consider in a deal like this).

After you determine what price makes sense based on the financials, then you can dig into the condition of the property and if you find any issues renegotiate. 

That said, I have a full-time job here in CA which means I can't relocate there for a month or two to dig deep into the market.So how do I get started investing remotely?

Recently became a member of two local REIAs and started really digging into the educational aspects of Real Estate within the past month or so.My goal is to build success and wealth over the next decade or so using as little leverage as possible.  

If not, you would have to dig one, and that crosses over into the realm of magic with trying to find a good location :)  Of course the best part of a well is FREE WATER!  

Thanks everyone after digging through some old posts on here.

Would have never found it unless I did some digging.  

I just kick started my first deal for a 400 unit complex, and I'm digging into LP funding, using a 3rd parties to raise it, as well as looking at doing some myself.I've downloaded a few pro-formas online, but wanted to see if anyone wanted to share there's?