What type of Questions Should I ask for a 10 unit complex

[Account Closed]

The property in question, is listed for $350,000 and is generating an annual income of $62,160 with annual expenses at $34,350 which $6,000 of that is for property management. The property has been completely updated outside with: a complete roof tear off, all new concrete up to the units, sidewalks and parking lot, all new landscaping and 5 of the 10 units have been completely rehab with the other 5 in excellent condition. Currently is fully occupied with long term leases in place (2+ years as I'm told).

I recently have spoken with the listing agent asking if the seller would consider doing a LC on this complex. She has replied with "yes they will consider with a large down payment". I have the ability to put up to 20% down without placing any stress on other capital.

My questions to all is, what do you think in general about this deal? What other type of information should I be asking the listing agent?

This will be my first commercial deal in my career and I'm looking forward to the knowledge and advice that I will receive from BP.

Greg