Here are the numbers, tell me what you think:Purchase price - $399,9996 unit multi-family - gut renovated 3 years agoGross monthly rent roll - $6600 that's with 100% occupancyTaxes - $13648total expenses- 23,208 which includes taxes, maintainence,insurance,sewar/water.  

Check your local laws, and if your heating system has a timer, you may want to reduce the nighttime temperature by a few degrees, if your water pipes are not particularly susceptible to freezing.

Some are more expensive than others (HOA) fees, some have central water and sewers while others have well and septic systems; most all have recreational facilities; you will find a wide range of prices, dues and taxes.  

Ceramic is resistant to water, more so than laminate.

It Has plenty of public road Front and power, but no public water or sewer available. property should sell for about 15k of the MLS, I offered 5k cash or $200 for a 3 year option to buy at 6k.

You said specifically that marking up a piece of real estate by 25% would put this poster into "predatory dealing waters." 

-About 500 sq ft of random areas of outdated 80s flooring-Water heater is from '91-A/c 6 years old-Roof looks good-Mandatory $100 social club fee at the Weston Lakes Country ClubThe house next door sold for 205k. 1740sq ft it sold outdated BUT had 3 bedrooms.

It looks like there won't be much need of repair -- I estimate $5000 at most.All the utilities are split out for the 3 units, except for water, which is $200/quarter.If I estimate 10% Vacancy, 10% repairs and maintenance, 5% capital expenditures, and 10% property management fees (I will mange it myself), I get NOI $11,362, cashflow -$212, CoC return of -3%I believe it's in a good location/neighborhood, one that I wouldn't mind living in, and it's close to Newark Airport.I would really appreciate your thoughts.

As for inspecting the plumbing, just depends on how old the house is, how long has it been sitting vacant, through the winter, what kind of water piping does it have, and what type of drain pipe does it have, just to name a few.

Expenses are low because tenants pay their own utilities except for water and trash.