An offer price of a residential commercial property was $3,500,000. The annual increase in the building value is 2.5%. Current monthly rents of the building are $20,000 and are expected to grow by a 2% annually. Vacancies are expected to be 5% of rents. The overall operating expenses are expected to be 15% of the EGI. Based on the above data, your bank offered you the maximum of 35% fully amortizing loan with 5% interest for 14 years. Calculate the IRR of this investment assuming a 5 years holding period, then sell the property. What would be your recommendation?