With my financing situation and baseline assumptions the property cashflows nicely.The unknown variables are:-The condition of the units.

The bank would require approximately $200,000 leaving me with $100,000 leaving $50k in unknown costs.

There are too many unknowns with an existing tenant -- some people place people just to place them.

The problem is many landlords rent and sell properties by simply saying the existence of lead is unknown...but the fact is you can look up most properties right Here.

Once you get a solid estimate add at least 10% to that for unknowns that could pop up.Rent 1350Figure about 10% for Vacancy, Maintenance, and Property Management$405That is not including the mortgage, taxes or property insuranceOnce you know the Mortgage amount, taxes and property insurance you should have a pretty good idea if it cash flows or not.You want to be absolutely sure before you buy that it can cash flow or you will be negative cash flow every month.

Expect to hear from me as I begin my journey into the unknown.

My concern is whether there is some unknown issue with the house(since the contract price is that low) or they have done a really good job(and also got lucky) in getting the property tied up for that low of a price.My GC looked at the house and did not find anything that we did not account for so it checks out so far.

Never let fear of the unknown stop you.

Then add on another substantial amount for unknowns. 

I posted this listing because it's something that sounded like it could have been a great investment but there are also a lot of unknowns with it which could cause a huge headache very quickly.