Currently zoned mixed use & tenant is starting a daycare.Prop Management - $60/moTaxes - $90/moInsurance - $50/moRepairs - $75/mo (should be lower due to complete remodel)Vacancy - $50/mo  (should be lower due to new 12 month lease)Cashflow = $400/mo x 12 mo = $4800/yr  CAP Rate = $4800/$48000 = 10%Option AI would love to sell as a turnkey rental, mark it up just above total invested and sell for $50-60k but dont have a lot of knowledge directly on that.... 

Im sorry I messed that part up. thanks for catching that @Mark Ferguson I have parents that are willing to spare me that 10% down cash if this deal works out.

I came across http://www.biggerpockets.com/forums/83/topics/1757...and following @Brian Gibbons recommendation contacted mark@sellerfinanceconsultants.com.

Originally posted by @Mark Shaffar:It seems you missed vacancies and interior maintenance.

I recently got my contractors license in NC because my rehabs are going over the $30k mark.

@Mark NorrisThis is just some basic rule of thumb but you should at least be able to get a 1% rent to price ratio meaning buy for $100k and rent of $1,000 minimum. 

@Mark Ainley @Matthew Putnick This is a multi-unit property that currently is set up for 3 units if the bottom unit is rehabbed into a 3rd or it will be a good size duplex(this is the route we're thinking).

Thanks @Mark Nolan.

My name is Mark, I am 25 years old and extremely new to the idea of investing in real estate. 

Thanks Mark for the welcome.