Was driving around looking for properties and came a cross a house that had fire damage the roof is pretty much gone.

It’s also in a city I know very little about (Norfolk, VA) here are the numbers- I welcome your thoughts/ insights:$259k - sales Price (4- unit building fully occupied)$1460- total mortgage payment (after 25%) down $305- Property Management Feee (10%)$105- trash (total water is $315 p/m but seller bills water to tenants and has it written in the lease)$60 - lawn careTotal rents are $3050Owner says monthly expenses are low.The best case scenario is net income of $737 assuming $400 extra monthly expenses (for worse case scenario unexpected expenses which always come up) and assuming all the tenants pay their rent.Positives- - Seems to be a good cash flow if expenses are kept low and everybody pays- 4-plex is located in an 85% residential area- building is ok condition (built in late 70’s) except roof is 18 yrs old- all tenants are gainfully employedConcerns- while the neighborhood visually looked fine, according to crimemapping.com its a moderately high crime area.

We're on the top floor with direct roof access. 

If they’re renting it to you that means the building is not warrantable so terms and rates will be through the roof.

From my walkthrough, I knew right away the big ticket items we needed were a new roof, new plumbing, new upgraded electrical, new garage doors, and new AC unit; along with the standard refinish of the interior. 

I averaged in 10k for a new roof, paint and drywall repair on one wall, and possibly new floors.

Retail land is normally developed to a 3:1 ratio with each sf under roof using 3 sf of parking, driveways and open space.

IN Charleston SC were we build  each and every porch the roof of the porch is painted Robin egg blue.. this to keep the ghosts at bey.. and I believe that works..

Exterior paint, roof, windows, doors, some xeriscaping, and minor cosmetic updates in each unit (carpet, paint).

@Tony MaiIt was necessary because it's a flat roof and access is limited.