To share some numbers- I bought one in 2022 for $230k (I went over asking and that was a mistake), but got 28k in repairs paid for by the seller and then I put another $42k into it for upgrades.

I'm looking for a 10-20 unit, built after 1960, needs repairs and the unit mix are 1 bed and 2 bed because most people don't rent out 3 bed.

Here are the numbers I know so far:Rents4 units all currently occupied on one year leases- #1: 1/1 $995 monthly- #2: 1/1 $995 monthly- #3: 1/1 $995 monthly- #4: 2/1 $1,100 monthly- Gross rents: $4,085 monthlyExpenses- $12,070 taxes annually- $350 monthly insurance (my estimate, they have liability only right now)- $175 monthly landscaping- $120 water (electrical on separate meters, tenant pays)- Total expenses: $1,651 monthlyNOI around $2,434 before vacancy, maintenance, and management (although i would likely self-manage these)Property needs about $50K in other repairs and udpates from what I can see.

The seller wants to give a credit for repairs so we can close early but the closing costs are already covered.

Property management has been aware of the situation but can only do so much even with constantly redoing what is being removed and repaired.

Since repairs are essential, doing the HVAC and roof as cost-effectively as possible will boost rental value and make refinancing smoother.

Is there anything I can do, the home is valued at $356,000 however it needs some repairs so personally, I'd put it closer to $290,000 to $300,000.

For flipping, I focus on the after-repair value (ARV), renovation costs, and potential profit margins—usually aiming for a 20-25% return after all expenses.

Being more handy around a property to do some of the minor repairs yourself3.

You are paying the tenants about $5K a year to live there (plus repairs).