Would you over pay for a great cash flow prop ?

[Brandon Rodriguez]

Hey BP! I don’t how how rare this situation is but I need some input. Looking to purchase a 4 unit and the units rent very well. $1100-1200/month. Problem is that the appraisal came in way less than offer and seller will only budge to about 40k above appraisal. After all expenses I would net about $700/mo. Here’s the other wrench. The property needs a lot of work, from full electrical to plumbing to new windows/frames, and wood stairs that lead to second story, just to name a few. Would you, or have you overpaid for a distressed property if the cash flow was this good in its current state? Any input is always appreciated. Thanks!!