Numbers:PP - $550kDP - $65kSeller financing - $485k @5% interest, 20 yr Amtz, 5 year balloon Purchase cap rate - 13.5%Market cap rate - 8.5%Repairs to date - $150k ($80k funded by rents) Electrical, 1/2 plumbing, 3 units rebuilt, foundations, refresh of 4 other units, built laundry facilities in each building, long list of misc deferred maintenanceAt time of purchase,Gross - $116000Expenses - $42000NI - $74000One year later,Gross - $156000Expenses - $42000 NOI - $114,000Financing - $36912NI - $77088Present value - $1.2m?

Some condo hotel programs let you self-manage your proerties, others stipulate a certain number of days that it must be placed in the condo hotel’s management program while taking a heft amount of the gross rentals (as much as 50%).

Firing your most important employee is not a good system. 

Do you mean Gross Multiplier?

He makes a grossed up (because tax free) income of $57k, and has no debt of any kind.

I was talking to a government employee in a little county we own property.. this county has NO zoning None.. they have land division rules that regulate growth but not what you can put on them.it falls on this person to decide and he is the building inspector for the county.. 

You need to know if your rental is set up for that... personally, I've seen way too many people with small dogs who don't have  a fenced in back yard, use pee pads, and the dogs use that 90% of the time... gross, as majority of the time the dogs just go wherever they want.. gross!!!!  

So (and it's a HUGE assumption) that the listed units are representative of the property, you need to increase gross rents by 38% to get to your projections:$10,150 $3,857 (38% of current rents)-----------$14,007Now maybe there two units are small but larger units won't have to rent for a lot more to balance it out.

The house was bought for 48k, we put about 90k of repairs into it for a total of 138k, and we put it up on the market for 185k. 2 weeks later, we had it under contract for 182k, for a total gross profit of 44k.

The problems from what I learn was they were long time employees of the Insurance company rewarded for their long service and given the top level jobs at the subsidiary.