Multi Family Home questions? Good vs Bad deal

[Ricky Priester]

I am looking at a multi family unit in a bad area of North Charleston SC.  Its a 6 unit building with 3 beds and 1.5 bathrooms per unit.  They are currently all rented and bring in $4600 per month.  55,450 per year.   They are asking 600K for the property.  

This is not my area of expertise, can someone please advise.  What makes it a good deal/bad deal?  What do i need to look for?  ETC?

[Troy Gandee]

@Ricky Priester I know which property you're referring to. I personally think it's very overpriced. I invest in rough areas, but this particular one is one a really bad street in a very rough area. Management can be very difficult on properties like that. Uncollected rents and vacancies can be difficult with that asset type. You just need to find an agent that can help you analyze the deal, but I don't think they'll let anyone show that one without an LOI or ratified offer, so it's hard to verify condition and Capex items up front.