My guess is the cost to bring a suit and attempt to collect(difficult) will exceed the cost to repairWhat proof do you have that the Broker was aware of the issue ? 

I am comfortable with managing the rentals, collecting, evicting, repairs, etc... 

Sign a 3 year extension right now for $250 / M increaseLet them decideNegotiate with the seller accordingly.

I'm not looking to collect followers, I'm looking to build a tool based on my own personal interactions with people.How do you all manage this on your end?

We have set up the listing to collect the Maine lodging tax, which as I understand, we will need to track and remit to the state. 

-If you are decide you are okay paying top market money then MAKE SURE that the rehab is as extensive as possible. 

Depending on the tenant you could have trouble collecting, you might offer them a deal (one month rent) but again, going to be driven by what's in your lease.

If he doesn't keep good records, then you have a bit of a problem, and will have to calculate it yourself.Finally, with all the information you've collected, you determine if it is a good deal or not.Based on what you listed above here's an example ballpark monthly budget:Principle & interest: ~$1,000 ($195k loan @ 5%)Taxes & insurance: $300-500/mo (depending on your locality)Utilities: $200/mo for water (most 4-units has the owner paying water)Vacancy: $140 (based on 95% occupancy at $2800/mo)Maintenance/Capital expences: $280 (standard 10%)Management: $280 (10%)Total: ~$2,300-2,500, leaving you with a profit of around $100/door, with only $10k invested. 

If I end up collecting rent, it should be safe enough of an area that I could go at any time of the day with no worries.

Lot of good things happening there and prob good to connect with someone experienced in that area, as it can work if that is what you are looking for, but it is still rough.Article is from earlier this week about a man who went missing collecting rent there:  https://wp.me/p11qns-3OA4