I need help running these numbers! Big purchase (make or break) 20 unit 2bd 1.5 bath apartment. I have provided the calculator screenshot.

[Jason Branum]

I was given an exclusive lead on a apartment complex purchase and the numbers appear a bit tight. Please help!

This is a 20 unit complex within a mile of my house... I'm committing the bigger pockets cardinal sin because at the moment my rental properties are in my name. I realize that would have to change immediately.

My bank is willing to require the bare minimum down payment because they feel that my numbers are safe conservative estimates. My concerns: I don't have an LLC yet, very little cash (only equity), and the 50% rule puts me at -$350.

The positive: there is a waiting list a mile long on these apartments and the whole complex has new roofs and tasteful upgrades (appliances etc.) it's a nice place... Very uniform identical units.