Contracts typically have a deadline for inspections and a deadline for negotiation of repairs.

If the bank does a title search and sees a trust owns the property, they typically won't enforce due on sale and they can't see who is the beneficiary of the trust because that is not on file publicly.

Using a 10% vacancy rate, property manager costs and typical operating costs I am at at 10% CAP rate. 

Exception:  you are an employee of the owner (typically builder/developer) and showing only their properties.That being said, I know of lots of people that are doing just what you propose, and are doing so knowingly or unknowingly breaking the DORE laws, at lest for NY and PA. 

My main question is, do property managers typically charge a higher percentage on units that have lower rents?

In such an instance, assuming no assignment, a seller would typically reduce its purchase price by the amount of the claim that it stood to recover, in order to put the buyer in the same stead that it would have been had no loss occurred.Now, let’s assume that the seller did assign the claim to the buyer, the buyer would have the right, per the assignment, to collect the proceeds of the claim and make the repairs.

That said the typical advice is to look for at least 30% equity.Also keep in mind that all vendors equity numbers are based on computer models, meaning they are estimates.

I’m a buy and hold investor typically looking for value you add commercial multi-family properties.About the deal.

I'm looking for direction on getting a gauge on the typical Cap Rates in the Zip Code of 31805.

It's a condo built in the 70s that needs some framing, drywall work, flooring, cabinets hung, bathroom surround tiled, electrical outlets replaced (because it's dumb when they're all different colors), & doors hung.