I have just started to scratch the surface of real estate investing and I'm glad there is a place where I can go for answers.

Building information C location Built in 2010600/ month tenant pays all utilities (4 currently rented)Purchase price 290000Taxes 3332Trash 172Damage (water damage from top unit to bottom unit, wood floors need to be replaced as a result, 1 unit has lots of cigarette burns on some surfaces, etc) nothing major but definitely not what was seen in the unit that was shown before we were under contract.How do I proceed

On the other hand “tenant proofing” to minimize damage is important, like a solid surface Wilsonart or Formica.

Inner surface - drywall, KP board, Barker board, lath-n-plaster, panelling, tongue-n-groove boards, some combination?

One of the others (unit - C, I think) has an expiring lease,the other three are presently on month to month.Rental IncomeUnit Rent YearlyUnit I $650 $7,800Unit II $600 $7,200Unit III $600 $7,200Unit IV $625 $7,500Unit V $590 $7,080 *This unit is vacant at present.Total $3,065 $36,780ExpensesHOA $100/month $6,000Property Manager 10% $3,678Taxes $696/unit $3,480Insurance $700/unit $3,500Up Keep $3,000 --------Total $19,658Net Income $17,122 (for all five)Debt Surface (assuming i purchase 4)120k - 24k down payment (20% per my loan officer)=96k96k @ 5%= ~515/month (P&I) or 6184/yearIf im simply dividing the 17k number above by 5 i see that i could net almost 3500/property/year for a total of 14k once paid of or 7816/year while paying on the debt.My question first and foremost is how do the numbers look?

Things like this sound good on the surface but they come with a lot of potential problems.

It was not the 70% rule but I convinced myself the house was in such good shape that the surface rehab would make it a fast flip. 

The surfaces are easy to clean.

I did prep it as you would cement, I made forms covered with plastic so it would not stick to the forms and I C clamped them in place to create a smooth surface under the counter.

I am a new member and i am going crazy that i didn't find this site years ago when things were good...I'm a former home builder trying to figure out what to do now after getting smashed to the surface by the bubble..I'm in Columbus.OH