Consider all the factors such as whether or not delayed financing would be a possibility and align with your goals, or if traditional financing would maximize your COC returns(once again if that aligns with your goals). 

Use 10% for CapEx until you can have the property inspected to determine the condition and life expectancy of all major components and appliances.  

I drive by it weekly when I leave the school after visiting a student that I mentor.In one of those moments when having a definite purpose and goal seems to align events, I mentioned to my boss (who owns about 50 MF units) that I "have to" buy something this year.  

Every piece of automated equipment is conceptualized by marketers, developed by a myriad of designers and engineers, assembled by workers and production support staff in factories, who source components from countless companies employing their own workers and raw materials sourced by purchasing and logistics.  

Between the two, I'm guessing you align with the new concept that you don't want to work 40 years, living as high of standard of living as you can with each raise/promotion, save a little, and get to retire at age 65.Parents dream that their kids will live a better life than them. 

However, you will be better off having the property inspected to determine the current condition and the life expectancy of all major components and appliances.  

I will try and get all my ducks aligned before I start.

I would first say that you want to make sure your goals are the aligned with your management companies goals. and that the expectations are very clear and set from the beginning .

If you are paying a price where the heavens and stars have to align perfectly to make any money you are setting yourself up for a huge failure.

I found a great property where the numbers align perfectly for me right now. but when driving through the neighborhood I found 6 homes for rent in less then half a mile down the same street.