Duplex description question

[Juan Alvarez]

Hello all,

I have a few questions. I am currently reading a description on triplex that has been recently made available. I like to see what’s for sale every now and then as I am still in the process of saving enough money to buy my first property.

Anyway, The description says "Performa CAP rate over 9%". What exactly does that mean?

The property is only 25% occupied, but he says that all bills are paid by the owner. That only means that for the current tenant correct? So if a new tenant were to move in, he would have to by the new terms since a lease is being signed?

He also says a survey is not available? What does that mean exactly.

Thank you so much in advance and I apologize for my arrogance. Like I said it’s been a tough road trying to save money enough money to get in this game comfortably so I’m trying to learn every thing I can.