Since the main point of the new tax law was to lower taxes on business and investment I think once it all washes out there isn't going to be any change regarding 1031's and cost segregation, remember most members of congress own property and they want the tax benefits of real estate as much as we do. 

This plus the fact that the building is in a rather poor state leads me to believe that the revenue from the HOA fees and coined operated laundry machines may be going in someone's pocket rather than in maintaining the building.

I'll defer to our lending gurus to better fill you in on that end of things, but certainly you should look for ones that are in the path of progress, have additional revenue sources (think storage, laundry etc), or potential therefor and/or have scope to add a bedroom or another unit to increase the income.

I put cap ex at 1000 per door a year ball parking it so 160 a month I am not including the studio in these evaluations because I will live theremaitnance as 85 a monthvacancy of 160 a monthSo over all looks like this so far.40k downprice 158500rents 1700 monthtax and insurance 560monthcap ex 170 monthmaitnance 85 monthvacancy 160 monthall together 975 a monthsubtract that from both units rentAnd there is 725 left over enough to cover the principle and interest and leave like 100 bucks left over for my utility's and such.current owner says the coin laundry downstairs covers the water and tenants take care of there electric and suchNow just 100 left over isn't much only 1200 a year not a very good return on 40k but when I move out and instal a fire escape in the studio as I live there I can rent that for another 550. after I adjusted the numbers for the studio this deal looks really good because I am able to keep pretty much everything the studio would produce.I'd get like 6k a year and get a 25 percent cash on cash which sounds as delicious as it can get.It is in a working c class class area. on the worse side of it. that's were most of the duplexes in the area are to be honest.

Laundry?

Give the tenants deposit slips and they can deposit the rent at the bank where you don't have to worry about receipts, robberies, or whiny tenants giving you a laundry list of maintenance issues.If you do continue receiving at your office, I recommend a security camera.As a business owner, I would probably file a report with the police and notify the tenant I will not be renewing her lease.

Are there any laundry hookups or coin op on site? 

Cellar to contain 2 bedrooms, a bathroom, and a room for laundry, water heater, and a furnace.

In order to increase NOI, you have to look at your potential purchase from two sides:I. income - can it be increased (via either rent increase, or other types of income - for instance, laundry or covered parking if there's none and it makes sense to add it) and/orII. expenses - can it be decreased.

Also there is a laundry room that he currently doesn’t charge for, I’ll be adding coin op laundry and charging a small amount.