I had a similar situation with a friend, she was a widow lady, so I went to her son and clearly laid out what the open market would bring but what she would have to do in repairs to get it to that point. 

The sales lady could not answer if they have a cpa opinion on the legitimacy of their funds payouts.

Sewer Cam, Code required water pressure,Heating and cooling issues within units--per renter statements. 

Honestly so far I've done nothing besides just paying the TI to my tenants and collecting CAM each month in addition to rent...My CAM estimate is way off, so what I collect is low.

Thank you guys/ladies for welcoming me.... 

I started doing some home flipping from 2001 - 2009, then got into buy and hold.I am at a cross roads, so I recently sold some properties, in an effort to have a portfolio of quality over quantity.Not exactly sure what my next move will be, the big challenge for me has been learning about tenant issues, and dealing with some unexpected repairs, both my wife and I took a course and are IPOANS CAM Certified (Certified Property managers).We only manage our own properties, plus have a couple of hired property managers to help with some out of town units, however, I have been studying tenancy rules, laws, and have become addicted to answering property management questions.What attracted me to join this site, is all the different types of real estate investment people are involved in.I look forward to participating in the forum.Michael P Currie

The Code guy shows up with a Code lady like this is an auto accident and they got to have six cops on the scene.

The guy who had power of attorney for the sale told me that the old lady who had the house kind of lost it and filled the truck top to bottom with household trash that had sat in the truck for years.

The seller is in the process of relocating the current tenant, who is an elderly disabled lady. 

You need to work to pass through those utilities and CAM and it will perform well for you.