[Calc Review] Help me analyze this deal

[David Smiley]

This would be my first multi-family (whoop, whoop) property so I am trying not to screw it up.  So this was clearly a hotel at one point. I am going to look at the property on Friday May 3.  Things that are concerning.  The owner pays everything (water, electric, sewer).  How hard or costly is it to break the electricity out by unit.  I think I am ok with water and sewer for now.  I think I could also put in laundrymat and make a little more on that as well.  What am I missing? There are 16 units and I just figured rent at $400 which I am guessing is low so monthly rent at $500 would be $8000 gross.  I have no idea how to calculate AVR at this point as this is not in my city but meeting up with Realtor and maybe she can provide some more info.  Really just looking at cash flow not future appraisal value.  Also it is not too far from the interstate in a small town that I would say is neither growing but not dying.  

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*This link comes directly from our calculators, based on information input by the member who posted.

Some other details

 Sold As Is. This does not include the house next door. Average income $5,500 monthly. One of the two buildings has concrete slab floors but the other two are pier and beam.

Property Features Heating and Cooling

• Heating Features: Space Heater

Exterior and Lot Features

• Gravel Driveway/Parking

• Lot Size Square Feet: 87120

Land Info

• Lot Size Acres: 2.0

• Number of Units: 16

Other Property Info

• Annual Tax Amount: 1631.00
• Source Listing Status: Active
• Owner Pays: Electricity,Trash,Water
• Source System Name: C2CN

Building and Construction

• Roof: Asphlt Shngl