New to multi family

[Aaron Michaels]

I am new to multi family property. Looking to invest. Found a property in town we live in. Wondering about what information we would request from seller as far as financials and how to figure out what is a good price for property.

[Evan Polaski]

@Aaron Michaels congrats on taking the first step.  As mentioned, the primary info you will want are T-12/T-3 (which are the monthly profit and loss for the last 12 months and 3 months).  You will want a current rent roll.  A list of capital items performed at property.

Beyond this, the more the seller's are willing to provide the better.  There are a couple items you should be looking into yourself, namely get your own insurance quote and calculate your real estate taxes based on your purchase price.  

And then for due diligence, you will want to understand the age of major items, roof, mechanicals, appliances provided by landlord, etc.  The seller should be able to provide the list mentioned above, but you want to confirm EVERYTHING that the seller says.