Monthly Expenses = $2800 Per Month: Current Management Team = $1000.00Insurance = $224.00Real Estate Taxes = $92.00Fiber Optic High Speed Internet = $89.00Cable TV = $52.00Trash Dumpster = $55.00Sewer / Water = $186.00Natural Gas (average) = $142.00Electric = $327.00Housekeeping = $270.00Ongoing supplies = $230.00Maintenance = $133.00Total RenovationThe renovation started in 2011 and was completed 2016 with entire complex being gutted to the studs, then completely rebuilt fully furnished inside and out to new standards, as follows: 26 gauge top of the line triple epoxy coated metal roof26 gauge top of the line triple epoxy coated awning and patio coverSingle hung gas filled energy efficient EZ clean vinyl tip-out windows4 new natural gas water heatersAll new plumbing throughout entire complex/buildingOnly #1 Grade Premium lumber was used throughout entire renovationQuality Price Pfister plumbing fixtures and lifetime parts180 feet of new 4 inch sewer line from the building to the street tapNew premium exterior fiberglass dimensional Colonial style entry door with new door jams, aluminum thresholds, all new lock sets and peep holesCustom picture framed windows with decorative edging and exterior door trim to matchCommercial toilets: all new PEX plumbing, shut off valves, bullets, supply lines, hose bibs, angle stopsNew attic and wall insulation with vapor barrierUpgraded electrical, HE lighting, new fixtures, switches, outlets, breakers, energy efficient lighting, vapor lights, rope lighting and HE flood lightsCustom artistic signage (3) built by Management TeamNew drywall, texture and highest quality Valspar paint throughoutAll exterior wood was hand primed and hand paintedNew vinyl fencing for corner lotPremium Quality pillow top mattressesNew hand textured walls (office), ceiling and covered entryNew concrete sidewalks, kitchens, baths, showers stalls, toilets, vanities, cabinents, counter tops, sinks, refrigerators, microwaves, deep freezers, dryers, A/C units, flat screen TVsAll work has been documents and permitted

Also unless they have heard of this style before or you in an area where STRs are in demand it will be difficult to convince them that this is legitimate. 

I'd love the opportunity to get it furnished & styled within your budget.

@Rich Hupper - very true, in this case however, it'd be a relatively small deal for the big players - and it's not a traditional apartment building either - definitely more mom and pop style think large property where there's a 4-plex on one end and some single units in a separate building on the same property... this one also appears to be represented by a residential realtor and was listed on MLS and not loop net ...

I'm assuming this is an industrial/warehouse style building (if its prime retail that's a different story), so I can't imagine that selling for an 8 cap in our market, let alone a 9 cap (especially because you as the purchaser are already paying for CAM).  

What numbers would you suggest targeting for the type/style of investment I am describing? 

Of course, there are ways to skirt this (namely through appointment-style visits arranged through free online services like Craigslist).

At what unit count or dollar amount do you typically start to see sellers operating more by the numbers and less by per unit residential style valuation?

I really like your idea of variable mortgage with a fixed style of payments @Roy N. and I have thought about doing something like this for some time, but was never sure what I should do or if I should.

My balance isn’t a result of personal riches, but a steadfast commitment to what matters most.Contrast this to my early career as a NYC investment banker.I sacrificed my entire waking life to work, nearly killing myself in the process (I fell asleep at the wheel during diligence tours in Wyoming, Puerto Rico, and Kansas…shout-out to highway rumble strips).All this in exchange for my first Wall Street bonus.