Private Lending - What should they get in return with 500k loan?

[Matthew Yorgey]

Hi guys,

I have a seller that is looking to sell his rental portfolio-

Its a turn key 9 building multi property portfolio consists of 6 single family, 2 multi unit and 1 large commercial property (13 total units). Total taxes on package $13,703. Total gross rental income is $136,320. Total insurance costs approx $6,000/yr. 23% Return on investment ! Professional property management services available! - That was what he sent me to purchase for 500k.

Now I am Looking for a private lender for the 500k. 

I wanted to know when meeting with Private lenders what the numbers they would want to see on the loan? 6-8%  or higher for 3-5 years?

How much % on rent each month would they want to see?

To than refi the property in 3-5 years to get their money back.

I guess for me when approaching to have a plan in place and that I don't look that I have no clue what to give the lender as a reasonable offer and return on their investment.