Okay, what you need is following: - rent roll last 3 years - approved profit & loss of the last 3 years, the last 12 month in detail - property statement (needed maintenance, shape of the units and the building) any violation/permit from the city - the complete unit mix (how many 2 bed, 3 bed and so on) - todays occupancy - market rents for the units (yes or no) - is the property self managed?

@Seth Levey when you have nothing to go on, better to cut your losses, fix it and move on.....

Were you able to get any losses covered by the seller and agent? 

Time is your enemy and even if you take a loss here, it could be better than gambling on waiting it out.

Right now there's a small house in an area I really like, but they are too stuck on an asking price for the deal to make any sense based on my walk-through, so I will either wait them out or some other sucker will buy the house and take a loss.

If I have a weight loss goal, how much do I weigh now?

(Saving for reserves) But I'm also in another pickle with being to aggressive on my returns and showing a loss:(Find a NEW bank.

On the excel sheet under Revenues there is a vacancy and loss rate and then also under expenses which I had them both filled in.

You have to keep in mind expenses for paying evictions, time when tenant is in house and not paying rent (credit losses), good tenant applicants that can't move in for three more weeks, paying for utilities when house is vacant and making ready, etc.  

From there you can refine your prospecting by using some of those assumptions on properties you don't have the full picture on.For example, as a baseline I use 8-15% of all gross income as my fixed expenses, 10-15% for capital improvements/reserves, 5-10% for vacancy and 1-5% for loss to market.