Analyzing First Multi Family Deal. 10 unit.

[Brian Himes]

   I have found a deal to possibly proceed on. Its a 10 unit apartment building with some issues. current asking price is 125K however im thinking they will take less. Im thinking given the size and state of the building each unit will take 5k to fix on average. Fixed up and in my area rent could run 400ish. I have experience with re-habbing homes so i'm not afraid of the work however ive never done multi fam so I want to have  everything checked out to make sure this deal isnt just me being obsessive and too quick to pull the trigger.

Also any specific advise on gathering investors for rehabs like this?

The Cons

Unit is made up of 1 bdrm and studio appts only, is this even worth it? Has anyone had sucess with these types of multifamily properties?

Obviously will need repairs (pic posted) Whats some common headaches in multifamily?

rent roll and and current numbers are not reliable.

Very possibly all tenants will have to be evicted.

Sorry for the non specifics as i said its my first multifamily