What is it that you look for in a bank statement other than income verification?

@Kyle Smith Im in agreement. 90% Cash out does not exist.

It has been on the market for over 100 days.  

With this being my first apartment deal I am more unsure about underwriting this type of deal and was hoping to get somebody who is more experience in multifamily to look at the proforma, T12 profit and loss, and rent roll to tell me if I'm missing something or to let me know of things that I should be looking out for.

And also, since I am the borrower, am I correct in my understanding that I would be subject to a tax on cancellation of debt which would lower my total IRR.I saw many years ago (like in 2017) on BP that note investors were shooting for 10-12% IRR in a zero-interest rate environement. 

I feel like thats the first thing I need to know in my planning.

Please google why do I need an LLC when I start in real estate investing.

Its a single family house in dallas.

I also require my tenants of any length (I only rent for 30+ days) to have their own renters insurance for their own belongings so I don't see any big issue with having your part-time tenants get renters insurance and then making sure that your own homeowners policy is aware that there are others living in your home but that they have separate renters insurance.

Would also love to connect with some agents and lenders  in that area.