Should i walk away from this?

[Michael Cross]

3 story - 3 Plex all rented $2100 gross rents

currently under contract at $120k - electric separate metered but heat is owner furnished at about $3500 a year; Extra garage bays previously thought to allow for $600 extra cash flow per month from separate building in back but home inspection shows it is likely a tear down at some point in the near future.

Home inspection revealed significantly more repairs than expected

• Roof replacement (expected) - not a simple roof so it will be expensive
• Electrical (knob and tube) but panels all 100 amp
• some foundation issues
• 2nd floor fire escape deck and wood steps replacement required
• 2 chimney tear down, 1 repair
• water heater inadequate (50 gallon for all 3 units)
• other repairs that add up quickly
• Interior of units is decent condition

I am debating between going through with it if the price comes down to mayb 100k but not sure if this is too much wrong to make the numbers work

ARV is 160-180k

Any thoughts on this?

Thanks,

Mike