Your return is not bad but in the years to come you are looking at some potentially big cap expenditures such a roof, a/c and other mechanicals that can easily eat up a year or more of your profits

Your property will never appreciate, and when calculating your total rate of return on the property you'll have to take into account all capital expenditures you'll be making over the hold period, as well as SELLING COSTS (can be up to 8% or more) and the fact that in 5 or 10 years when you want to liquidate it, it might very well not be worth a penny more than it is today.

Maintenance is usually estimated as a percentage of the gross rent, with around 5-10% being common.Capital Expenditures: These are larger expenses that will be necessary to replace aging components of your rental, such as a roof, HVAC, water heater, electrical panels or plumbing systems.

Under the Internal Revenue Code, repairs, renovations, and general maintenance of your personal residence are nondeductible personal expenditures""For work on a personal piece of real estate to have any tax value, it must add to the property's value or prolong its life.

No real large expenditures except possibly the detached cinder block garage which might need some maintenance in the future.

For multi unit properties, the sellers are much more aware of their own time expenditure, and how much disruption allowing a bunch of looky loos to walk around their tenants homes, will cause.

You let something sit with no maintenance and it will have problems.It's important to set aside reserves every month for general repairs, as well as capital expenditures. 

When you are buying multifamily being sold as an investment with tenants in it, it is a good idea to request a rent role for the past several years to uncover how good the tenants are and the expenditures of the property. 

Additionally, you can contact a local property manager and ask them what average vacancy rates are for your area.I'd also recommend creating a recurring capital expenditures budget amount to set aside each month to hedge agains upcoming replacements for major items like roof, furnaces etc.

From what I understand you need to budget capex to handle large ticket items that will fail eventually and unexpected expenditures (roof, furnace, AC).