Newbie - first walk through of first potential deal. Tips?

[Joshua Biondi]

Hey everyone! I am a newbie in the RE world. I am going to do a walk through today on a potential property that I am interested in. The property is a duplex listed at 49,900 that I plan on house hacking. This is my first time doing a walk through on any property, and my first time analyzing a potential deal. More than anything I'm looking to get some practice with the whole procedure. I would appreciate any tips or advice on things I should look for or specific questions I should ask. Thanks in advance!

[Deanna McCormick]

Make sure the property is a legal duplex, Do they have a rental license. When was last time the city inspector inspected the property and do they have a copy of that report. Do they have a written lease with current tenants and what are the lease terms. How much secruity deposit do tenants currently have on account.. (this should transfer to new owner and be part of the purchase agreement terms along with getting all leases and rental records for the past 2 years including move out statement)

Condition of building, age of roof, water heater, heat source furnace or boiler.. electrical service.. Are utilities on separate meters?? Parking is their sufficient off street parking.

Good luck , just like buying anything if you need a contractor guy to go with bring him along.