If the sheathing is OSB, a roofing inspection should be done to make sure the roof hasn't become...crunchy from mold growing on the topside under the shingles. 

Has one furnace for both units (4 years old) Two water heaters (4 years old)New layer of shingles on the roof (second layer) Each unit will generate $900-$1000 in rent. 

A metal roof has 40-70 year useful life compared to 30 years for asphalt shingles. 

There have been no leaks but shingles go missing when a big storm comes through and they have to be replaced.  

I don't know the quality of the shingles she put on 8 years ago, but if they were cheaper 3 tabs, I would bet they have less than 50% life left.

New shingles, several windows, re-level two second story apartments, new exterior entrances, three kitchens, three washrooms, flooring, drywall and paint, etc.We would consider two of the units habitable at the moment (even though three units are occupied), one is barely habitable, one apartment had a fire and requires refinishing and the commercial space is vacant and dated.Our goal would be to rehab the unit that was damaged by fire, then renovate one of the units currently tenanted and finally gut and divide the commercial space into two one bedroom units giving us a very nice six plex when completed.After plugging in income/ expenses and adding 8% for each vacancy, management and maintenance we end up with $100 cash flow as is and conservatively calculated $1600+ net cash flow once renos are completed if we do not refinance.At a 15% cap rate Value would be in the $135,000 to $150,000 value range.The  second property is actually kittycorner to this property via a back lane and is a completely finished fully rented fiveplex.  

It also shows that the home might need a new roof, since the roofing material visible in those aerials shows a 30 to 40 year old roof with the "jigsaw puzzle" looking old shingles.

Now that the shingles were on, I was going to have to live with the slight sag in the roof and we would have to address that on the price.

You might want shingles and they decided on tiles with a higher cost.

The property does need rehab work to the floors, kitchen and bathrooms, some window panes, some roof shingles need replacing, and entire inside paint job.I just met the contractor this Monday July18th, and am awaiting his estimate.