Listings advertise gross yield because it's bigger. But you don't pay HOA, property tax, management, or vacancy out of gross — you pay them out of net. That's the cashflow you'll actually see.
The occupancy slider is the most sensitive variable here. Move it from 80% to 60% and a great property turns into a break-even property. Be honest with yourself about what the building will actually do.
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Bring the numbers from above. We’ll separate financing scenarios from cash requirements and identify what still needs lender review.