Account Closed, sure, zero down sounds great, but, what are the other numbers?

It sounds like you're working a solid strategy. 

We were not planning on doing as much as we did, but we wound up gutting it down to the studs and replaced all electrical, plumbing (including the main drain), etc.  

@Jacob Carter , sounds to me like you are talking about DSCR.

When we have a roommate situation, where one of the lease signers wants to leave, the remaining tenants either take full responsibility for the rent among themselves or they find a prospective replacement tenant.

You sound timid and unsure .. which tells me you would have a very difficult time investing in this market .

I told them I could not give deposit back bevause I've noticed a lot of things I'll need to replace last time I was in there. 

Assuming around 50% expenses and $840k PP you're at a 4.5 cap.I don't know your market at all but that doesn't sound like a great deal.It sounds like a brand new A class building so expenses should be lower though.You would need to get all of the actual numbers to really analyze it properly.

The concept sounds great but it's hard to find a lot of information in the public realm outside what their site provides.

Deal overview;Purchase price = $350k. 4,000 sqft, 5/4 that had an in-law suite above the garage, complete with a tar-pit (I mean pool, but you couldn’t tell the difference), hurricane damaged roof with inside water damage, two kitchens that needed appliances/updating, 2,300 ft of flooring needed replaced, $45k in city fines that we had to navigate (settled on $1,500 in fines, title company assured me that would be the case, but I was still apprehensive, glad we listened) and lots of granite, paint & fixtures!