4-Plex: Contract Sent

I faxed over the contract and a copy of the EMD check to the agent for the 4-plex this morning. I also FedEx'd the signed originals of all the paperwork she sent, so it looks like the deal is bona fide now. My wife said after the fact that she wanted to be included on the contract (i.e., be on the deed), so I'll need to have a contract addendum (or whatever the agent wants) sent.

Here are the numbers for the deal:

                            "A"        "B"        "C"
Income
 Gross Potential Rent:    $ 1,250    $ 1,250    $ 1,250
 Vacancy Loss:            $   104-   $     0
 Gross Potential Income:  $ 1,146    $ 1,250
   
Operating Expenses 
 Property Management      $   200-   $   200-
 Maintenance              $   100-   $     0
 Electric                 $     0    $     0
 Water                    $     0    $     0
 Gas                      $     0    $     0
 Insurance                $    54-   $     0
 Property Taxes           $    35-   $     0
 Other Reserves           $    75-   $     0
Gross Operating Expenses  $   465-   $   200-
   
Net Operating Income      $   681    $ 1,050    $   625
   
Loan #1 Payment:          $   179-   $   179-   $   179-
Loan #2 Payment:          $    73-   $    73-   $    73-
Total Debt Service:       $   252-   $   252-   $   252-
   
Monthly Net Profit:       $   430    $   798    $   373

Column "A" is the hard numbers financial statement, which has realistic values for each income and expense for the property. Column "B" is what the financial statement would realistically look like on a given month without averaging out extraneous expenses. Column "C" is using the "50% rule" (that is, take 50% of the gross rents and use that as the NOI). So the worst case scenario, Column "C", has my average net monthly profit at $373/mo., which is one of the reasons I've been pursuing this deal.