Help analyze this deal.

[Tracey Williams]

I found a 14 units about 2hrs from me and am trying to see what I should offer. The seller is motivated, she has a loan that will balloon in 5 months. She is an out of state owner and the property manager (a family) has not been keeping a good record. 12 units are renovated and 9 are occupied. The location is great and their is room to increase rent once the units are stabilized. New roof replaced last year and one unit needs work of $4000- paint and carpet and some drywall.

Asking price is $560,000

Rent - $600/ unit

Tax - $21,000/ year

Insurance - $460/mon

Tenants pay all utilities but water which runs about $400/mon

What will you offer?

Thanks

Tracey