None of the other expenses are verified yet.)Net Operating Income - $56,069We've recently experienced an oil boom in West Texas which has taken a huge hit, weakening rents in the area, because several oil firms have laid off many of their workers while oil is at a current low price per barrel, so the rents which have been collected may not remain as high as they were in 2014.My primary concern is that the expense ratio seems unrealistic to me, I've been accustomed to considering 50-60% as normal for expense ratios in my local area, this complex claims to have a roughly 30% expense ratio. 

PITI is roughly $14,000/mo. 

I have roughly $20k saved for my next investment but am not sure which direction I should take...

Its a rough call but at the end of the day the bank is getting paid, I've fought with Wells Fargo on policies and won before but it tooks months of arguing.

hi all, I was wondering if anyone would share how they structure daily tasks in wholesaling, for example do you guys wake up, check for potential deals, at 12 return all phones calls, at 3 p.m. daily paper work or filing, ( this is a rough example but I hope I got the question across).

In my local market we are seeing run down C class apartment buildings in rough areas selling at 7-8 caps.  

This truly is a college town with roughly 7 colleges within a 5 mile radius.

I found a few on Craigslist that were in my area, bought one in very rough shape for 500 and got my crew to work the next day!

Not knowing the details, it looks like you have roughly 22K in equity per property (265K/12).

Budget is roughly 500k.