It is a Co Op there is no HOA however there is a recurring monthly maintenance fee of $287 per month, the co-op shares which are based on the price of selected lot or home sites current pricing is set at $20,000 per lot, the homes are manufactured or mobile homes new ones start at $100K .......the $28K she is asking for includes both the co op share/lot and home.

My wife and I operate an internet based printing company.  

Is the seller basing his price on this pro forma?  

Way more number based!

Just ball parking here, the value of the property is probably somewhere between $750k-$1mil based on cap rates that are roughly 6.5%-9%.

Locally, the lender we prefer to use generally charges 12% APR, 2 points at closing, and loans 65% APR.An added benefit of using hard money is that they loan based on their analysis of the deal.

Do tenants and landlords really need peace of mind for lead based paint?  

Here are the average response rates we have seen based on our customer feedback as well as our own mailings throughout the years:Yellow Letters- average response rate of 8%-9%, all kinds of calls (angry calls, curious calls, tire-kickers, quality calls)Postcards- average response rate of .5%, mostly quality calls.Zip Letters- average response rate of 2%, mostly quality calls.

Conventional, VA, FHA loans all max out at 4 units.  5 units and above are commercial loans and require 25% down and are based off your ability to run a business. 

Based on your thoughts and a couple tweaks, lets try this again....Management -  5% - 119Insurance - $125CapEx -   lets bump it to 10% - $237Taxes - $291.33 - $2495 /yrRepairs -   10%  -  $237Interest and Principal - using the Bigger pockets estimate, this came out to $420.13 /month based on an $88,000 loan Vacancy - $118.75 - 5%Electricity $150Water ad Sewer $50Propane tank lease - 25Heat  - $75(Tweaked some of the utilities after learning more info from the seller)Total expenses comes to $1848$526 Cash Flow -  $263 per doorNext step is getting a contractor to take a look at the roof and foundation, if that turns out ok I might take a stab at this one!