Put your thinking cap on and come up with some other things you could do to make this work or at least get out of it.

Expensive cities have lower Cap Rates so your cost to acquire the property will be higher and you're rent roll not much higher proportionately speaking.

Owner pays monthly water and each tenant pays their own separately metered Asking price 320,000Monthly Income:$4,890.00Monthly Expenses:$3,731.69Monthly Cashflow:$1,158.31Pro Forma Cap Rate:9.45%NOI:$30,236.40Total Cash Needed:$96,000.00Cash on Cash ROI:14.48%Purchase Cap Rate:9.45%Purchase Closing Costs:$6,000.00 Estimated Repairs:$10,000.00Total Project Cost:$336,000.00After Repair Value:$320,000.00 Down Payment:$80,000.00Loan Amount:$240,000.00Loan Fees:Amortized Over:25 yearsLoan Interest Rate:4.700%Monthly P&I:$1,361.39 Total Cash Needed By Borrower:$96,000.00Total operating expenses:Mortgage expenses:Vacancy:$342.30Repairs:$244.50CapEx:$342.30Electricity:$350.00Water & Sewer:$400.00Insurance:$200.00Management:$391.20P&I:$1,361.39Property Taxes:$100.00ARV based on Cap Rate:$755,910.00All advice welcome.

I know it's about to be the winter so I am unsure of how often the unit would rent out.I would need to make sure the HOA allows rentals and that there is no rental cap or restrictions.

The FMV of the apartment is based on NOI/cap rate.  

Owner pays monthly water and each tenant pays their own separately meteredAsking price 320,000Monthly Income:$4,890.00Monthly Expenses:$3,731.69Monthly Cashflow:$1,158.31Pro Forma Cap Rate:9.45%NOI:$30,236.40Total Cash Needed:$96,000.00Cash on Cash ROI:14.48%Purchase Cap Rate:9.45% Purchase Closing Costs:$6,000.00 Estimated Repairs:$10,000.00Total Project Cost:$336,000.00After Repair Value:$320,000.00 Down Payment:$80,000.00Loan Amount:$240,000.00Loan Fees:Amortized Over:25 yearsLoan Interest Rate:4.700%Monthly P&I:$1,361.39Total Cash Needed By Borrower:$96,000.00Total operating expenses:Mortgage expenses:Vacancy:$342.30Repairs:$244.50CapEx:$342.30Electricity:$350.00Water & Sewer:$400.00Insurance:$200.00Management:$391.20P&I:$1,361.39Property Taxes:$100.00 ARV based on Cap Rate:$755,910.00All advice welcome.

Cap Ex Depreciation? 

I'm using conservative numbers when analyzing this deal 40% Rule for the expenses.Can any MHP investors provide some input on other operational expenses there can be, cap expenses, and anything else I should consider?

Get an email from a broker on a 10+cap in the Orlando area.

Open the door and throw in some flash bangs .