Tripex - Needs work - Need advice

[Samantha Klein]

Hi All, I just toured a triplex this morning with $1,602 in total rents, the asking price is 135k but my realtor said if I can't get it for 100k with little or no money down, I should pass. 2 of the 3 units have not been updated since the 70s. All of the electrical are two prong and not grounded, the upstairs unit reeks of smoke and the blinds are literally rust/orange color from years of smoking, it needs a total gut. The seller and I have been in discussion about seller finance and she was kind of shocked when I told her I could not pay near her asking even with owner financing. Would this still be a good deal if I could get it for 100k, 5k down and just update the units as people move? Rents are also $150 or so below market on each unit. The place should cash flow approx 500-600 a month however I'm afraid the cost  of upgrading and updating will be significant. Can someone more experienced provide some insight? It has newer capex items. Thank you!