To persue or to run?

[Taylor K.]

Hi guys, 

I have been looking at this deal. Its a duplex, listed for 48k. Combined rents for 1300. Owner paying water,sewage, and garbage. Taxes are 800 a year. C+/B- Area

The numbers sound great, but I walked through the property today. It looks nice cosmetically, but I am worried about deferred maintenance. The owner says the roof is only 5 years old, but the tenant showed me a spot where it was leaking. The owner says that he had his handyman fix it. All the windows are original and need replaced badly. The furnaces and hot water tank are both new. The part that really concerns me is the sewage smell when you walk down into the basement. He says that it was just a pipe that needed capped but the smell was still there when I walked through. The front porch also needs replaced or fixed.This is a great deal numbers wise im just concerned that it will be a money pit and turn bad quickly. The tenants seem to be very frustrated with the current landlord about how he fixes things. 

Let me know what you guys think, thanks in advance