Also, when trying to "hide" assets it can bring a negative viewpoint on yourself...But, normally I believe you'd form a LLC in a State with anonymity favorable laws such as WY or DE. 

I've run a pro forma on most of them and found a couple that will work.

The broker’s pro-forma showed NOI of $51K, however, when I dug into the income statements, actual NOI was only $36K.

As Michael said, that pro forma maintenance expense is ridiculous.  

Creating pro forma statements is invaluable with the rent numbers and with all of the expense numbers.Keith

You won't make the pro forma on that investment, and lending is hard.

Thanks for sharing the figures you did, but, we also need to know other pro forma assumptions: (Rent per month, PITI payments, Interest rate/terms on your mortgage, vacancy allowance, repairs and cap ex allowance, and property management cost.

It's not ideal form a "buy low, sell high" perspective, but if you get in early, typically there is an early bump in property values in a new development,  you can often get hoa rules waved as an early investor, and often get a bit of a discount for being early. 

Also, realtors don't exist in the same form as they do in the US.

The ROI has to be 30%So I not only look at the current NOI, I also look into the Pro-forma (but not the seller's pro-forma: I make my own based on my understanding of the deal, the building and the market).I am sharing too many secrets...I should start charging people money for advice (hahaha)