64 units X 500 a month = 32,000 X 12 months = 384,000 gross(Take away 60% of expected revenue for vacancy, property management, evictions, expenses, etc.)384,000 X .60 = 230,400384,000 -230,400 = 153,600 expected NOI153,600/2,125,000 = 7.2 cap rateThis is IF there is not existing deferred issues with the property.

Happy Friday - Thought I'd pick your brain on the financing terms I was just presented by a local bank:Per his email:Interest rates would be 5.125% for three years or 5.50% for five years; 20 year amortization and .50% commitment fee.We can look to underwrite and approve with 20% down payment if using 100% of your own funds <or> 25% down payment if obtaining a 10% seller second mortgage (15% coming from you).So,I currently own 6 properties (12 Units) with them, financed under a similar structure, that I purchased back in May.Looking to purchase an additional 22 Units contingent on bank financing, so before I move forward, what are your thoughts on this? 

You will want to make sure that the beam above supporting the roof is in good condition as wellif you are trying to fix the columns using similar materials, you will want to make sure the existing block is structurally sound.

However, the big hurdle has been that most lenders that we have spoken with want to see the retail component of the project at least 50% leased prior to commitment.

If you are using unfinished flooring your base will be marked up from the sanders, edgers and you may get some unintentional poly splash when coating. also if there is existing hardwood that will be refinished cover it before you paint and careful with the demo guys removing carpet.

Where do you think these numbers exist?

And you'd be asking a seller to commit fraud with you. 

Coinmac (or whatever they're called now -- google 'em) will put machines in there at no cost to you, service them, take the cash out, etc and mail you a check for your cut (they have different profit splits you can negotiate) .If you just have a small building, it's not likey worth the cost of doing a 'smart washer' that can take payment via venmo/paypal/applepay but they do exist. 

The adjusted offer came after the inspection and was far lower than the first and was based on air conditioning issues which didn't exist. 

As an active duty service member you will run into the time old issue of deciding where you want your portfolio to exist.