Aluminum to Copper Wire Conversion

[Michael Hooper]

I'm currently looking at a 32 unit apartment complex (all 1 bedrooms) in Cincinnati Ohio. We're in the middle of our due diligence process and we just found out the complex has all aluminum wiring. From what i understand banks won't loan on aluminum wiring, so seller financing is probably how were going to have to go. Also, I'm told insurance companies won't insure it until the wiring is replaced. Is that true? Does anyone have an estimate for how much it would cost to replace? Should we just walk away at this point or just figure this in to our offer?