Opportunity? Or nightmare waiting to happen

[Jason Hill]

I found a 36 unit apartment complex in a class C neighborhood that is being sold with owner financing. So i thought opportunity right? So i contacted the number they sent me a package with all the numbers and what not. They asking price is 800k. The package i was sent said 10.8% after repair proforma cap rate. The crazy part to me is that only 9 units are occupied!!!! What would you do?