What would you offer?

[Michelle Marty]

There is a 4 unit building I am interested in. Each unit is 2 beds 1.5 bath townhouse style. The building was built in 1997 and is all brick. It appears to be in good condition. It is a foreclosure and has been on the market for nearly a year. It has been sitting empty for nearly a year and half. The bank started asking $209,900 and has reduced 6 times and the asking is now $160,000. Each unit would rent for $650 - 700. I own another rental property in that area that has been a terrific investment. However, I have no experience with foreclosures. On realtors site he has the taxes listed at 4,000 a year but I checked the county records for the year and they said $1,200. I asked about the difference and he is checking into it but has not replied.