Questions to ask on an 8-plex

[Chris Kittle]

Good morning!

I have identified an 8-plex that I am strongly considering purchasing.  This would be my first foray into multi-family of any kind and I want to be sure I'm not missing something.  So far the costs that I know I need to think about are as follows:

Loan

Insurance

Taxes

Snow removal?

Property management

Set aside emergency money for CAPEX

Each unit has its own electric meter so the tenants will pay that on their own.  I need to check out how the water bill works.  What else am I missing that would be a common expense?

Also, any thoughts on loans?  I can pay a large chunk (maybe 50%) in cash if I need to.  What should I be looking for in a loan?  

Thanks so much for your help in advance!