so i went to look at the house today and i might have found a really amazing deal. but theres also some downside to itthe place is a 4 plex in a low income neighborhoodthe street the units are on is really shady... and the houses need some serious painting, drywall touch up , clean up and junk removal. they look pretty junky but seem to be fully functional in terms of electricity hvac plumbing, and structure. the exception is that one unit is still on fused based electricity so it needs to be replaced.that being said i see some really good things in this property.1) out of the four units 3 have been rented out for 5 or more years. and apparently is usaully easy to find tennants in the area2) one of the tenants is a career construction worker who said he would be interested in working with me to fix the place up ... maybe on some type of reduced rent agreement3) this same tennant suggested that the seller is much more motivated then he seems and said he really thinks the guy would take 10,000 less than his 65000 offer4) even in its current condition this place seems like it will cashflow pretty easilyi think this property could be an amazing oppertunity but it will also be alot of work... especially for my first property. in some ways the idea of my first property being a fixer upper really scares meso now i have some more questions-1) whats an average inspection price ( assumer 4 2/1 units )2) whats an average inspection cost3) any advice

I can't think of any situation where I'd let a buyer move into a move-in ready home of mine prior to closing.If for some reason the property doesn't close, the best case is that I have to wait for them to voluntarily move out, will have to touch up the paint, clean the carpets they messed up, clean the toilets/sinks/showers, and fix the nail holes in the wall.

Even though the buyer was to do all the interior painting, we still had to touch up most of the trim, door ways and window sills due to peeling paint.

I was looking to place an offer but my better half told me I was crazy and reminded me about what our plan was - to buy decent homes that could use some minor cosmetic touch ups.

I set up a time to meet the seller to take a look at the house.When the meeting time came, I was happy to find out that the house was in pretty good shape and simply needed a few touch-ups to make it rent-ready.

One unit is rented for $624 and the other one is vacant and needs some touch ups. 

I chose flat (hoping for easy touch up in the future).

A little touch up here, a little tile here and this place will be mint.

Touch up paint, good deep clean, that sorta thing.

The tenants we've had that have left early under the above circumstances all left with at least several days left in the month that they had last paid, so we had some paid time to clean up, do touch up paint, etc.