Level 1: the "are we remotely close to offer price" analysis  Take the gross potential income and allocate 50% - 60% (exact percentage is determined by property age, amenities, and current condition) of it towards expenses Then take NOI and divide by cap rate which gives us the high-level valuation This takes 5 - 10 min to do side note: another way to do this is knowing the average expenses per unit per year for that property time in that market then allocating that towards expenses instead of the 50% - 60% Level 2: the "ok, let's get serious and specific" analysis  If after doing Level 1 it makes sense to continue then Level 2 is done In Level 2, you use property and market specific information to run your analysisSome (but not all) things to consider for the specific market/property: taxes and how they are evaluated, vacancy trends, what's currently being billed to residents vs. what could be billed to residents (i.e. water), etc. 

CheersPercyMy lease clocks in at 17 pages (plus a cover page and 2-page table of contents for 20 pages total), but there were still things in Darren's presentation that I'd like to incorporate into my own lease.

Don't leave income on the table just because you will be taxed on it.3) Most real estate expenses are deductible in the year you pay them, especially if the benefit is immediate (like a utility payment or property tax).4) Some expenses are prorated through the life of the improvement, such as depreciable buildings and roof repairs.

Youa welcome to biggerpockets#Askbp is located under the " learn " table congrats

Would love to partner with someone but I don't have much to bring to the table yet besides a heads up on this deal.

The 100k house had pipes burst and had water damage throughout the house.

For example thier is a $150 storm water assessment per parcel $22 masqueto control ect.  

However, I am struggling to figure out the best approach for financing, if I do not have all the capital traditionally required for a down payment.If I decide to go with a lender, am I really going to have to come to the table with at least 20-25% down?

I did however convert 102 unit apartment into separate condos ( complete rehab, even new roads, water lines the works .

Landlord pays ~$100 per month water only.Not sure how to proceed.