No financials but it might be an opportunity!?

[Bruce D. Bolton]

I was just presented chicken scratches and half completed spreadsheets on a 50 unit building.

Could be an opportunity as it's a out of town landlord and the building has had its share of problem tenants.

Most of the units the tenant pays their own heat, in a few, the owner does.

My question:  can one do their own "financial forensics" on such a building?  Call the utility companies, get the numbers, go into the building and knock on doors - see the vacancy rate, ask the caretaker?  

Can an investor even get a loan without good numbers?

Can I use the lack of good numbers to my advantage?