I think the reason people say "low money down is a terrible idea" is because so many really extreme novice investors with zero clue about real estate fail when they bring less than 20% down.  

This leads me to believe you have absolutely no clue what a rough cost of the rehab will be and only know the place is semi-falling down.  

So that's why I can't see why anyone who has any clue as to what the market is doing would sell low!

Some buyers and agents though have no clue about this stuff and many will be painfully regretting purchasing a flip.

I have no clue what you're talking about....2.0???

But without the gas/water on neither of us would have any clue how to determine if a furnase or water heater was actually functional.

Thanks in advance :) Jared you'll need to know a range of cap rates for your specific:-structure age and condition-tenant base or type of renterYou go get comps of most recently sold multi family buildings in your range of units 25-35 units.You look at the NOI / Sales Price = cap rateSo first you have to understand what a cap rate is what is a NOI is and how to calculate itHow you can manipulate NOI or CAP rate to make a seemingly good deal as a bad deal You have to know the difference between a bad deal or a good deal otherwise you might be setting yourself up for some hard times.Most agents have no clue (in depth) about what cap rates really other than its a formula of NOI / sales price = them selling a property to you to make a commission and its a number you as an investor look for.To determine which cap rates you're willing to invest in you'll have to know how the "cap rate," and this subject property will affect your financial statements otherwise you have no way to plan and you're purely "winging it."

There are lots of people trying to wholesale but they have no clue how much rehabs actually cost.

Yeah well I woudln't listen to anyone that says there is no need for a website.they have NO DAMN CLUE what they are talking about.Keep one thing in mind.Credibility is what gets you leads.

Also, any tips as to how I can make an initial assessment based on clues when I look at the house in person?