The numbers seem to work except you didn’t budget probable increase in property tax after reno.

I have sent out 600 yellow letters so far my hand is dead lol I have a solid list of 1,000 absentee 50%+ equity owners in my target zip codes, I will contact them consistently once a month for 6-9 months.

I am looking to renew the leases and increase the rents to market value.

Even though it's a B/C neighborhood, is spending that much money on flooring going to get you a decent increase on the rent?

If you are a gambler, what's the odds that prime will increase during the next EIGHT years? 

The property consist of 5 - 460 sqft individually built units.

Apply immediately for a rent increase. 

Helps to increase your open rate.When it comes to price, don't make an offer.

You can pay rent and make someone else money or you can buy and make money for yourself. 10 years from now your rents going to be $1,000 higher than it is now, but if you have a mortgage its only going to be slightly higher from tax and insurance increases.

When I purchased the home a few years ago, I put down 20% and have seen an increase in equity since it was purchased.