Analyzing two multi-plex deals...please help

[Katrina P.]

Hello all:

Please help me work through these two deals. I'm sure I'm missing some information, but here's what I have so far:

5-unit building
-(4) 2/1 units
-(1) convenience store
-3 units are rented out at $450 each with longterm tenants
-1 unit and convenience store need total rehab (not sure of rehab costs yet).
-Built in 1920
-Taxes (TBD)
-asking $64,500 (negotiable)
Note: With this one, I'd love to rehab the convenience store because I always wanted a convenience/carryout. That makes this one more attractive to me, personally.

3-Unit building
-(2) 2/1 units
-(1) 1/1
-2 are move-in ready; 1 needs paint, cabinets and appliances
-Conservative rent would be $550, $550, and $450
-Built in 1900
-2009 taxes $2,671
-Asking $43,500 (will accept $40k)

What do you guys think, given the information I've given?