This is precisely what I, for one, do.

A landlord could be open to further liability (exceeding the value of the property) if enforced or not enforced *precisely* in the right way. 

Kristina prides herself with staying abreast of market trends and property values to make sure my clients have the most precise and up-to-date information when making investment decisions.

Also, their preapproval is also contigent to inspection.Usually, I advise newbies NOT to bid at auction precisely because these auction companies require that you can close with cash (from private lenders NOT hard money lenders) AND there are no inspection contingencies.Do you have friends, family and colleagues with enough cash for the deal?

I also didn't see any soft costs like civil engineering, architecture, MEPs, etc.Happy to sit down and talk more precise numbers instead of back of the napkin estimates or help in any way I can =)

As you go through the process, I'd suggest understanding what precisely you need help with and finding the best coach/mentor for your needs.

@Eva Brock I don't know exactly what you are looking for but while there are formulas, what numbers you put into those formulas is anything but precise.

This sounds precisely like the type of investment I've been trying to find.

Usually when you purchase a property an inheriting tenants it is SOP to request from the seller to provide a signed estoppel letter from each tenant confirming how much deposit they have paid, how much rent they are expected to pay, how current is their rent, what amount is owed by tenant to landlord, or landlord to tenant, any agreement verbal or otherwise outside of the lease if any...each tenant has to sign such a letter precisely to avoid after the fact agreements from being claimed.May be your attorney has the paperwork? 

You can come up with a more precise estimate by looking at each of the major systems in the property, guessing at their age and replacement cost, and then spreading out that cost over time.