Here is where I started really learn construction from plumbing to electrical to framing to drywalling etc.

The property that has 550 cash flow also has about 35-40000 in equity and I have contemplated selling it to clean most of our slate.

It is clean and has almost every aspect updated.

The Electrical was an old panel and would need to be replaced as well, Red Flag #6. 

Hi all, would like to hear your opinion on this deal:- Irvington NJ, at the southeast part- 4 family, didn't see the place yet, owner says it's in "ok" condition meaning no fixing required yet. all units are month to monthINCOME: 3br ($1250) + 3*2br ($1050 each) = $42,800EXPENSES (rounded):Tax - $10,000insurance - $3,000water / sewer - $800common electric - $500heating and electric are seperatedmy additions:super - $2,000maintenance 5% - 2640vacancies 5% - 2640management 10% - 5280TOTAL -  $26,860NOI = $25,940 How much CAP would you assume for this deal to determine the offer (let's say it needs 15K in update)?

Tenants pay for gas and electricity.

I bought the property last year without knowing its history, so I attempted to have the tank pumped only to learn the septic company would either have to tear out the driveway over the tank, or charge me $50/foot to dig and hopefully find the clean-out (though it’s not guaranteed they’d find it).

So if something is in that wall that shouldn’t be there and was covered up with Sheetrock (like buried electrical junction boxes, this happens quite often with flips on older homes)this is considered unforeseen, and the customer pays extra to deal with whatever that issue maybe.

Plumbing and Electrical re-worked Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

The pumps and electrical equipment have all been replaced.