Jpjp,
Let me rephrase. IF I could buy the plane for 3.5 or under and IF I could operate it for 500 k per year I would do it .Clearly, this is not possible and I know that.
My plane guy also has a vested interest in making a sale and desperately wants a giv for charter so I think he is grossly understating things because he is counting on 135 income which won't happen .
Everyone has their motivations I guess .
Looking for something smaller at this point. Who knows where I will end up. I thank you all for the good advice .