She quite a few units that are up and running and already have long term tennants.  

Has anyone dealt with government subsidized housing?

the benefit is that you can run multiple investments via your self managed investment vehicle.  

Based on my input criterion, my results suggested it'd be better to wait, but I'd encourage you to run some of the same numbers as your input variables will differ and could net you a different result. 

The disclosures you're accustom too in consumer financing don't apply in commercial, commercial borrowers are seen as business people and capable of running their business, knowing or finding out what expenses they will have.

Do I find a deal, run the numbers, and put together a business plan before going to the lender trying to get a loan?

The $200 cash may motivate them to move out so you will not have to go through eviction proceedings, which will cost you more in the long run.

@Rome Xu You need to run your numbers and present some analysis to a lender.

This is probably not the best way to file for tax purposes, as you will most likely owe more to the government each year.  

Short answer, we bought at a price somewhere between actual value based on actual numbers and what it would be worth when run by a reasonable operator.