What are some rule(s) of thumbs for evaluating Multifamily props?

[Account Closed]

I'm new to real estate investing. I'm starting to get my mind around evaluating deals, learning the rules of thumbs expectations, etc.

What are some rules of thumbs you all go by when evaluating a multi-property deal?

What information do you normally request from the sellers?  

Any links to some resources, please share. 

Thanks

[David Lilley]

Ask for a T12 (trailing 12 month profit and loss statement), a current rent roll, and offering memorandum (OM). That will give you everything you need to evaluate whether you have a deal or not. As for rules of thumb, the most accurate is to go off of the historical expenses on the property. Depending on age and condition the property is in you can assume $250-500 per unit annually for maintenance and $200 per unit for Capital Expenditures. You can get more accurate with Cap Ex by taking into consideration the remaining usable. Figure the cost, years of usable life left, and determine how much you should be saving annually to cover that expense.