I'm trying to find 3 sold and 3 active but there's not much to compare to in the last year.

I use rentometer.com to compare rent withinthe property proximity.

The closing is suppose to be in mid 2025 but all they are asking for is a 10% deposit upfront that is all (5% if I qualify woth the bond company to put in the other 5%) Closing cost are extremely low comparing to other markets there’s no land transfer cost.

I’m not sure where you’d find an 85% LTV lender as mentioned above, but I’d that exists in the SF market I would sure love to know who’s offering those terms and if the rate/fees are comparable. 

The cold can be hard on properties and cause higher repair expenses compared to properties in California.

Tax affected P/E ratio is 37/.75= 49, we will call it 50 to make the following math easy.Lets compare it against REI. 

Regardless of what an investment summary looks like, you have to be able to swallow your initial impressions (good or bad) and look at the numbers and business plan for what they really are.If you decide to invest because the investment summary looks pretty, you may be putting yourself at risk, if you haven’t done proper due diligence on the deal and the team.Project name (often the name of the apartment complex)Photos of the property and areaOverview of the submarketOverview of the dealDetails of the business planProjected returns and exit strategiesDetailed numbers and analysesTeam biosIn a 1 page summary, you get bits and pieces of each of these elements, though you would need the full investment summary to get all the details.If this executive summary landed in my inbox, here’s what I would do.

Cash flow is pennies on the dollar compared to the cost of the asset, it is more of a defensive measure to ensure you have liquid assets to maintain the property. 

A per door price for a comparable unit is a good option.

The reason I said have a solid plan is so you can get an accurate quote from everyone, compare apples to apples.