Verifying Rental Income

[Jennifer M.]

Hi everyone!  When making an offer on a MF property, is there any way to verify the rental income that the seller claims to make on the property?  Is it appropriate to ask for tax returns?  This is a small 8 unit property and the seller is apparently "old school" and collects rent in cash/money order and keeps hand written records.  Come to think of it, he might not report all of the income on his tax return anyway.  I guess the only thing I can do is check out rental comps in the area and see if they are reasonable.  I just don't want to get stuck with tenants who don't pay rent on time/leases that don't exist/rent amounts that are lower than seller claims, etc.  I guess these are just the risks you take when investing in tenant occupied properties, though!  Anyone have any advice to offer?