Thinking about making an offer - 23 Unit Multi Family Apartment. Need advice

[Thomas Blaine]

I am looking at a 23 unit in Garden City, MI. Suburbs of Detroit Michigan. Looking for Seasoned Multi Investor thoughts on this property. Take a look at the image with all details. The owner supplied the numbers for Gas/Electric/Water. I went high on all of the other expenses. This is a B- to C Area and a C building. The owner is willing to do a Land contract with 10% down @ 6% with a 10 year balloon. 25 Year AM. Owner Pays for heat & water currently.

I have included a 30K budget for repairs & Capex.

She is asking 900K.

Questions..

Is this a deal? What should the price be?

Is $12,000 a good budget estimate for repairs & maintenance on a 23 unit?

Am I crazy to buy a building with owner paid Heat?

Any other thoughts?