With the economy of scale in multifamily, each additional unit nets you a little more than the last, as a rule of thumb.

To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

I am also a huge fan of real estate and for the past 50 years there's been a way to combine both.By leveraging a Self-Directed IRA, real estate investors enjoy both the traditional advantages of property ownership and the additional tax benefits of retirement accounts, creating a powerful wealth-building strategy.

This is part of the cost to acquire.

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

Considering that, you are likely going to see appreciation year over year, which essentially will be additional equity you'd capture just by simply living in the home. 

Reach out using the message system if you have any direct questions or want additional advice.  

Are there any additional considerations?

@Timothy Frazier I wouldn't use the word bad because if that is the route needed to acquire a piece of property then mission accomplished however you are stacking the deck against yourself with this approach.  

This property is being acquired at $79K per unit, a sharp contrast to comparable apartments in the area selling for ~$140K per unit.