While this is not an outstanding return it seems decent, so I am at a loss as to why this property has been listed for months now.

Most cards charge 2 to 3% of the outstanding balance as a minimum payment. 2% of $100,000 is $2,000/month, not sure where you can buy anything for that amount of money that will cash flow that much.

As an aside, I've been reading Brandon Hall posts for a few years now, and he is outstanding in providing insight and recommendations.Adam

Are there any outstanding/illegal issues I should know about?

*100% occupancy Revenue would be $64,800, but with unpaid rents, evictions, etc. he collected $35,962.50*Expenses: $24,053.07 (Insur $4,830; Maint $6,745.03; Tax $12,069.70; Util $408.34)*NOI: $11,909.53There are outstanding rents owed on 6 of the 8 units...but I don't know the story yet (a $7,105.12 eviction; b $1,350; c $675; d $4,450 vacated; e $7,545.38 eviction; f $8,152.50 eviction)Current rents are $675/unit and should be around $800-850.CAP Rate appears to be 7.00 based on other properties listed in the area.

If you run background checks on the existing tenants you would likely find outstanding warrants and felons and maybe even sex offenders (depending on the location).

@Sam Bates outstanding, good resource.

It is important to offer a outstanding product that is a good deal and where you make money. 

There is an excellent probate thread here on Bigger Pockets.Also, Mike LaCava posts regularly on Bigger Pockets on House Flipping and has an outstanding (no phony GURU pitches) House Flipping website. 

We live and work (flip) in the metro area of Minneapolis MN.Over 70% of the homes we work on are from the 1910’s to 1950’s.Many of our homes have outstanding woodwork, original tiled bathrooms, and hardwood floors that just need to be brought back to life.For us, we have to remember that these houses are not ones we are living in, but are doing for resale.With this mindset, we might make a definite different decision on what we do with the house compared to if it was our personal house.