Look back at the last 3 months with the Black Friday sales, pre Christmas sales, post Christmas sales, Circuit City liquidation...2.

Consider the bombshell that detonated on every mall or strip center owner who had Circuit City as a tenant before they went defunct.

Like I said, I've been thru the real-estate howto circuit enough to know that you just have to slog thru all that to get to the parts that I actually enjoy.

I do 8-12% vacancy on multis depending on area.Capex should be higher, presumably you have two HVAC systems, two breaker panels, etc etc.Also, leasing fees (I don't understand why nobody includes these - they can be substantial especially on a multi which is generally going to have higher turnover than SFH).

The circuit court of appeals, which deals with all the appeals, doesn't show any record that the appeal was perfected.

Fortunately, that wasn't a rental, just a white elephant I bought for my family and lived to regret for a wide variety of reasons only part of which were the flooring or the black and purple walls, or the 20 AMP breaker for the Kitchen, living room and 2 bathrooms. 

Now I know that should be a deal breaker but they were very upfront and from the looks of it they let someone in there life that scammed them badly.

Unless it was found as a typical expense and included in the lease development stage , unfortunately, the owner would probably have to incur that expense upfront and slowly be paid back when new leases were made through higher rent and was able to be incurred as new language in the new lease and understood by the new tenant about who is responsible (at least partially) for that or any other possible capital expense.With regards to the problem stated about using the landlord's panel, you might gain some additional wattage is by possibly downsizing some of your breakers. 

Look for large capex issues that could be a deal breaker (or negotiating point). 

Usually the contracts aren't forever (at least in my market), so it's not a deal breaker if you bought with them, and wanted to replace after X months or even a year or more.