It may just be that the seller wants too much and there is no solution but I was hoping investors with more experience than myself in this area could provide some insight into how they would value this and how much of a hit to cash flow would be acceptable in exchange for future potential.The details:4-unit purpose built building in an average residential areaCap rates for 1-4 unit properties range from 6-10% depending on quality, location, conforming vs non-conforming etc.Asking price $520k, dropped from original $550k and has been on market for a few monthsRents are ~$34,000 and should be ~$48,000Expenses (excluding maintenance) are ~$9,000 - This puts the asking price cap rate at ~4.7% (not including maintenance)- We estimate that at asking price it would be about -$260/month in cash flow and break even at a PP of ~$450k assuming our typical 10% of rent for maintenance- We estimate the building would be worth around $530k at market rentsWe were thinking the cash flow neutral price would be our best offer, but their indication was that they are looking for close to 500k. 

What is the price range of repairng railing in a rear poruch?

I have seen this range from as low as $100 up to $300.Do I need to pay anything before sitting at the closing table?

For a house at the 99K range they must really want to sue over principal. 

Side and rear setbacks are sufficient for fire safety.

If the discussion is about the strongest asset protection available my opinions range in toward the "ideal" asset protection structure.

I need an estimate range on the cost to build new.

After that comps fall off to the $260k range.

The majority of duplexes in the area for sale currently are right around the 190-220,000 range.

The average price range is $250k to  $350k depending on area for a three bedroom two bath house.