Do not close on this building without speaking to an eviction lawyer. 

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Speaking to a contractor, just to remodel 3 of the 8 buildings could cost around $750,000. 

Ask to speak with some of their current owners and current/former tenants.

I don't know the Peabody market well (my property management business is focused Boston-Weymouth-Westwood area) so I can't speak to what the after-renovation property finishes should be.

Generally speaking, with SFR or small multis, I just rely on the lease/rent roll (and some form of proof of payment; i.e. bank statements, deposit receipts, tax returns, etc.). 

In many markets section 8 is higher than market rate. and investors need that extra return to mitigate the risk of sec 8 tenants generally speaking.

Let the tenant know this in writing and if you need to, also speak with them, but always in writing first in these situations. 

I speak to them regularly and bonuses have never been on their list of incentives.

I would like to speak with local investors, real estate agents, property managers, lenders, etc. from the area.