Offering on Multi w/ no financials

[Jason D.]

Guys- I am looking into making an offer on an 8 unit (2 separate 4 plex's) in my area. It is currently all vacant and all units have been redone/upgraded for the area. I've spoken with the listing agent and requested P&L for the property for the last year it was occupied. I was informed it was a "housing unit" for a farmer for his migrant workers during the summer months...thus, I am told he has no financial info as this was part of the workers compensation. This was its primary use for 20+ years from what I can gather. How can I confirm price and determine asking price w/o solid numbers from past? I cannot calculate a cap rate and there aren't any other comparable properties in the area that have sold in the past 24 months. Any duplex,tri or quads are selling for about 10% less per unit in the area comparing just size, condition, rooms, etc. It seems this was never an investment for the owner, only fit a need for his primary business. Hoping this helps me but neither he nor the agent seem to know what I am looking for with the financial requests and the "listed potential rents" seem to be a guess on their part. Any advice on how to proceed? This would be my first purchase larger that a 2 unit.