The 218-unit apartment property, if acquired for $7M and renovated with $5M (total investment $12M), is predicted to be worth $16M-$18M and yield a $4M profit in a couple of years after completion and sale.
"if we pay Seven and we invest five we're in it for 12 it should be worth 16 plus plus plus to 18 to 18 so it gives us a $4 million profit to make in a couple of years after it's done and sold"