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Updated over 7 years ago,
Multifamily deal with no tax returns
Hi all, I just got under contract on a multi family deal in Mobile, Alabama. This is out of state for me as I live in Texas.
The contract is for 3 properties: one property contains 2 studio apts and 19 boarding rooms, the second property contains 1 studio apt and 11 boarding rooms, and the final property contains 9 boarding rooms.
My current issue is I cannot get tax returns from the seller.....Long story short, they just are not available. I do have a fairly detailed rent roll though, containing names and phone numbers.
My question for y'all, would you purchase a multifamily deal without tax returns or CPA prepared financials? Also, does anyone have experience with boarding rooms?