Thinking about buying an apartment complex, does it add up

[Eliz Barr]

I found an apartment complex (2 buildings) for sale, $265,000 each

According to the information given in the listing, right now it has 44 units, 34 of those units being occupied.

Most of the vacant units are ready to rent with others only need cleaning and paint, each building brings in around $10,400 a month full occupancy with the tottal gross income per year being $250,000 and the net icome per year being $140,000

To me this sounds like a good investment unless there's something i'm forgetting to factor in
Any advice?

[Jeff Greenberg]

If the deal is actually as good as face value, then you need to get it under contract now. Get a 30 day due diligence period and tie it up until you can find out what is wrong. If it ends up being a great deal you have it under contract. If you are unable to close on it, you assign it to some that can close and take an assignment fee.

Keep us informed on your progress.