its worth $120,000 to me as a floridian, so theres no way that i can tell you "yes this is a good deal" with a straight face. i dont like the fact that you have to pay for gas and water, but im sure theyre not a huge expense. the taxes seem high.if everything comparable around it is selling for $240,000+  (as in actually SOLD), then yeah its a good deal simply because of the fact that youre getting an undervalued property. other than that, im not liking the cash flowhow genuinely excited are you about this deal?

@Nicolas Conca - seriously I would find a lender well versed in VA loans and ask them what restrictions you may face. I

One of the biggest problems you may face is waste water.

The other issue you face is "we believe". 

@Nathan G.On the face, I would not care much about a tenant union.

Another problem you could face is if this is your primary home, where will you live? 

I drive around and find houses that are grown up or need some work, then I find the owner and go to their house to talk to them, no phone calls and no letters in the mail, they have to turn me down face to face.  I

And indeed, it seems to be misguided to believe the seller's agent would be an impartial advocate for an unrepresented buyer--thanks for helping me see the shortcomings of what I was reluctant to face. I

He won't meet me face to face. I

The human mind picks up on small things that we aren't even consciously aware of, and meeting face to face is essential.