What do you all think, should I pull trigger or walk away

[James Chance Browning]

Ok, I am going to try and combine groups so as to condense the material.  Also, this is only my second deal so I am not a master by far.  This is a category D property, but in a good location and recently remodeled.  It is around a 8 cap.  My loan will be conventional, with 21 percent down.  I can get around a 3.85 apr for 30 yr.  Into it then:  this is a 4 plex, each unit brings in 750 (theoretically).  The rent rolls do not show this however. 

Gross income: 26000

(and has late fees which makes me think, a lack of diligence on tenants)

Expense: 4357

      Now, the expenses have cleaning, insurance, management, repairs, security, and utilities.  The taxes in the state are not that bad; however, the seller did not supply the actual value. The repairs have a large deduction with no explanation i.e. 2000.  I don't know what went on there so I just added that in anyway to be conservative (my calculation number was 6400).  The number above is the actual value of what they gave me.

NOI: 21643

Note the less than perfect income: 36000-4357= 31643

So, what does the community think?  What would you all offer?  What do you think the max offer should be?  If you think I'm missing something please let me know.  Thank you all for the knowledge and the time.