Ask for tenant estopels which are forms filled out by the tenants letting you know how much they pay, their deposit and lease terms.If you don't know expenses make a bunch of cold calls to owners on craigslist with similar properties and let them know you are new to the business (people usually like to help others if you approach it correctly) and are currently in escrow to buy a 5 unit property (don't tell them the exact size or location just in case they are snakes and try to swoop in and buy it from under neath you) and wanted to get their opinions on rents, vacancies and expenses.Keep track of this info, see if you can see a unit they have for rent and keep a chart on these properties so you can compare to your own.If you are buying larger apartment complexes check out IREM.Good luck but be careful.

Vik & Will,You are both corect in that a large majority of agents are simply salesmen, almost like used car salesmen or snake oil salesmen; always having an answer for every question asked.

I started investigating real estate at the beginning of the year and stumbled on to BP in that process.My father was a real estate investor, and I spent my summers painting, cleaning, mowing, and snaking sewer lines.

Also, I wonder if when they hear thunder in the sky do they also hear "cha-ching"?

http://finance.yahoo.com/loans/article/112850/idaho-foreclosure-snake-homeWow.... what a mess, I am not a snake person I wouldn't touch that house even if you gave it to me.

Or is this just another "Guru" trying to sell his own flavor of snake oil?

Thats Tom Cruise in Tropic Thunder.

Sure, ask questions, do this or that blah blah blah but when you start telling people how much money you got, you're gonna open yourself up to snake oil salesman and 'Oh my god!!!

I put the snake in there today, but nothing came out, so I'm not sure that's the issue.

Half the players and all the dealers know each other on a first name basis, so you feel like you're walking into a snake den when you set down.