Flip or Flop Duplex?

[Melanie Chambers]

I am a newbie and would love advice on this deal. I am looking to purchase a Quadraplex in Albany, Georgia.

Asking price $249k and all units are rented with the total rent at 2320. The plan is to increase rent from 580 pp to 650 with tenants paying all city utilities. Annual property tax: $3100. Water heater and furnace are both less than 10 years old. Air conditioner is over 10 and for expense planning purposes we can expect to replace that within 5 years. 

The units are in decent shape, but nothing fancy. They could certainly use a remodel to look nicer, but as is they are functional and basic. 

This is quoted “Seller is looking to possibly to a 1031 tax free exchange which any buyer would need to participate in at no expense to the buyer.” 
I have researched this and wanted some insight in that as well. 

Thanks in advance with your thoughts on this deal!