Is It Worth 10 Times NOI?
I was able to put a 25 unit building under contract at 8 times NOI from a motivated seller.
I have heard that it is very common that a building is worth 10 times NOI any day, any time. The building cash flows and is in decent shape
Based on that assumption would anyone recommend on exit strategy of a qick flip with the price being 9 or 10 times NOI. 
Sounds like you got a pretty good deal on your hands presuming the numbers are correct. As far as a flip goes you will have a tough time flipping the transaction unless you get the $$ down a bit more.
HTH
[addsig]