So seller is about $110k high in your estimation.No, I am saying you should figure what the actual market value is before you figger yourself into a not so great deal by misusing cap rates. 

The term real estate investing is often misused as a label for real estate business activities, such a brokering, wholesaling, finding, leasing, managing, etc.

I cannot tell what size buildings you are evaluating ... there are references to existing duplexes, but nothing else.Secondly CAP is one of the simplest, yet most misused ratios in real estate {I won't get on my soap box this time}.  

Misusing this may cause your scores to drop.I did have a few late payments many years ago when I got out of college. 

But I suspect misuse by the tenants since they store crap in the same space as the heater.

Also that those repair costs don't affect the security deposit.With me living in the house with many people, if I find that a particular tenant caused a good amount of damage via general misuse or negligence, am I able to charge them for repairs to that appliance?

It currently says: "You promise to keep the premises in a neat and sanitary condition and to immediately reimburse the landlord for any sums necessary to repair any item, fixture, or appurtenance that needed service due to your, or your invitee, misuse or negligence. 

I am hoping my repair guy will be able to tell if he thinks the current dryer is broken due to tenant negligence/misuse.  

These fall into a couple of categories changes to the property, misuse of the property, and lease restrictions.

However, according to our By-Law/Master Deed, Garage is considered a part of "Limited Common Elements".Specifically, from our Master Deed: The Limited Common Elements of the condominium shall include any deck, patio, stairs, or garage to which there is direct access to that unit which is appurtenant to same, or any car port to which a Unit has been assigned....These Limited Common Elements are reserved for the use of the Unit(s) either immediately adjacent thereto or for the use of Units to which they have been assigned, to the exclusion of all other Units....Any expenses of repair or replacement relating to said Limited Common Elements, or involving structural maintenance, repair or replacement, shall be the responsibility of the Association, excepting for costs necessitated by negligence, misuse, or neglect of the Unit by a Unit Owner.One day, someone (not anyone I know) likely backed into our garage and crashed the garage doors.