Average in the U.S. is ~$4k.See if you can find a mortgage w/o points.

o Should i ask about or ensure any specific details/arrangements with the lender?

@Matthew Von Dwingelo it’s another investor who he bought the property it still has plenty o meat on the bone but I think he is looking for cash buyers

It is currently listed as a 5 unit, and the C of O covers the 5 units.

Josh O.

@Hassan O. 30-60 days? 

Some have you pay for insurance (E&O) with an annual or up front fee. 

The tenant does not speak English well so she called her DIL who explained that her husband (tenant's son) is an electrician and put the connections in.We provide the stove and fridge and my lease is VERY specific in that no extra appliances shall be added and no alterations to the property shall be made w/o our written consent.

I know this is a basic plumbing issue but is there something I can do w/o calling someone?

You want at least a 30% margin above costs and the NOI needs to be enough to pay the debt service after stabilization and then some.If the project looks feasible from a financial standpoint the next step is to check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.