@Brett Stander, thanks for sharing, but that might be a bit TMI regarding yours and your mother's finances in an open forum with over 1 million sets of eyes... 

A piece of advice to those of you who live in expensive parts of the country/world and have your eyes on the midwest and southeast United States to get into cashflow investing...As an active BPer, BRRRR investor, and an agent who works with investors in Cincinnati, I get a boatload of messages from BP members who are looking in markets like mine for great deals (at least 20% below market, great cashflow, not a lot of rehab, etc.).

And 60% are in NOT AWARE of problem mode.So, if you're confident in your product or service, it's time to focus on a very untouched 97% of your target market by ripping potential leads eyes away from their scrolling or researching into reading how you have the solution to their need!

Thanks for the comment and catching errors in my spreadsheet, @Wyatt Franta.I fixed the error and added $10K/yr cost to OpEx (management and admin).

That is a good catch-all and also leaves up for questions what is catastrophic, but basically it means you won't ask for anything cosmetic or little.

Hard money may be expensive, but it's sometimes worth it to have someone else's eyes on your deal to make sure it's a good one. 

Let’s catch up some time, would love to learn more about how things are going out that way.  

Here are the numbers of the deal, experience eyes and direction is what I am looking for in regards to setting an offer amount that makes sense for its current worth. 6 unit owner asking/LOI has agreed to 600,0006 unit - 3 2bd/1bth, 2 3bds/1bth and 1 4bds/1bthtotal rents+laundry = 60,100 current/ pro forma= 70,200 (this can be achieved without any upgrades)expenses = 23,000 currentNOI=37,100 using the cap rate (.09) method of valuation = 412,222Got cap rate from a local CRE agentBuilding is 100% occupied.

You might see a rapid shift in the MBS, then rates catch up slowly over the course of days, maybe weeks.Then it changes.

If your business is incorporated and you are a controlling shareowner, they will want to see the corporate tax returns and Notice to Reader financials from your accountant.