You’re in a win win situation no matter what however I guess you would also want to take in account any major cap x repairs that might be coming up soon in the future you might want to avoid paying. 

Seems rather suspect with a 36% cap rate, and it's imperative to factor in the debt especially in a indefinitely and new normal high debt world.

I like the space as this is pretty fragmented vs MH, so cap rates seems to trend higher. 

I've been trying to save up for what could potentially go wrong like cap ex things.

I'm assuming you are arriving at your cash flow number by applying Gross income - cap ex, maintenance, utilities, vacancy, tax, insurance, mgt, landscape/snow & Debt service?

My question would be is a 6 cap the going rate in the area for that building.

Still, it offers solid cash flow potential, especially in multifamily properties with cap rates around 7-9%.

Hey Dominic, what kind of cap rates are you seeing in the plexes? 

@Michael HoustonSo cap rates are for commercial properties so they have no use in 1-4 unit values.

I have pulled a permit for removing a fireplace, but probably would not have but I had a significant remodel going with permits and did not want hassle of him making an issue of removing the fireplace (the inspection for fireplace removal consisted of only verifying gas cap was in visible location, he did not even spray it).