Check this deal out - what do you think?

[Billy W.]

Hi,

I have found a guy who is underwater on his investment property. The guy bought the place for $156K in 2005 and now wants $70K for it.

4 Units - 1b/1ba
Rents are $400-$500
Lower/middle class neighborhood
Needs about $20K to be renter ready
City Appraised for $149K
Taxes: $1989 a year

Any advice?

Thanks