The current owner is shopping it around for 1.35m (7cap) and the proforma numbers are as followed: ANNUALIZED INCOMEActual MarketGross Potential Rent $191,639 Less: Vacancy ($5,749) Effective Gross Income $185,890 Less: Expenses ($91,497) Net Operating Income $94,393 Debt Service ($65,592) Net Cash Flow after Debt Service $28,801 Principal Reduction $17,403Total Return $46,204 ANNUALIZED EXPENSESActual MarketProperty Management Fee $9,582 Replacement Reserves $5,250 Building Insurance $6,712 Maintenance $12,560 Taxes - Real Estate $36,296 (37220 w/o exception)Utility - Electricity $2,453 Utility - Gas $12,369Utility - Water/Sewer $6,275 Total Expenses $91,497 Expenses Per RSF $8.39 Expenses Per Unit $4,357I did some additional digging and found that they offer Wi-Fi for the building (I talked to a rep and said providing service for a building that size should run 285 a month) and the trash was left off which runs about 285/month.

When I met him face to face, he said I bet your surprised to meet a Chinese guy with an Australian accent.

Define size of each market segment - Number of units sold, dollar values, absorption rate (avg. time it takes to sell)2.

Granted, this 5 unit will be a much larger project, but the size & cost of the project is what's making my other partners a little apprehensive about this property. 

.- assume 100% chance the sellers wont do anything. i am betting a pizza on it and i hate betting!

The judge may have ruled your tenants have to pay back the court fee but it's a fairly sure bet that they are not likely to do this. 

Off market is the best bet, but of course that takes more work.

The best way to size up a company is to visit the office and meet the staff.  

To further my goals, i've built a good sized fund and am currently pursuing my real estate license.

Best bet is to go down to the  main office at 2480 Thompson St.