Deal Analysis
I am looking at a 12 unit 1bed apt bldg--
ask price 225k, G.I. 40.8k ,total expenses 20457 not including any allowance for deferred maintainance or debt service. At what price does this deal make sense. Greatly appreciate any feedback. 
At first glance I wouldnt pay over 200K, but I dont know enough about the deal. Based on what you stated the net income is 20,343.00 . Since I have no other information about the property, I have to use the 10% rule. Making the buy price 203,430.00. After hearing more about the property I am pretty sure I would go lower though.
Kyle
Yeah, well Kyle is a lot more generous than I am. I try to buy on 13% cap rates not 10. Or a 7 net multiplier which is a lot easier to do in my poor brain. That makes about $140,000 for this deal. You won't find many deals at that price but the ones you do will be winners.