I've checked some of the single family homes in the area around the same beds/baths/sqft and they were around 230k-300k.

Possibly a 3 bed 2 bath. 

Yeah - part of me doubts furniture, etc, will not cost 20k for a 4 bed, 2.5 bath home.

I have owned the same 3 bed 1+ 1/2 for 30 years.

When I asked why they were selling it, they mentioned they had a bed bug scare w/ a guest.  

See the following specs:2 Bed/1 BathRent/unit: $650 (well priced for area)Units: 8Taxes/Building: $3770 as of 2013 (City of Irving tax rate 2.69% of assessed value)Given Expenses: $1,150/building in Insurance, $50.00/building in lawn careTenant pays all utilities (separately metered)My total valuation is $286,000.

Always look at the Mobile Home total payment : (tenant pays Lot rent + their loan payment ) to equal about a 2 bed, 1 bath rental apartment in the area.

I haven't verified any of this information so I suspect that I'll uncover some hidden truths but here it is:- Asking Price - $800,000- Gross Income: $112,000- NOI: $96,000 (I know it seems high, I'll verify this for sure)- 12 Cap- Owner manages property himself- 16 units each 450 sq/ft, all 1 bed 1 baths w/central A/C- 100% occupancy (maybe an indication of rents being too low)- No washer/dryer in units, has community washer dryer (Generates $125-$150/mo in revenue)- Each unit rents for $575.  

Closing Cost $5,000I am estimating 10% Vacancy, 10% Repair, 5% CapEx, 10% ManagementRent is 1 Bed 1 Bath $5001 Bed 1 Bath $5002 Bed 1 Bath $600Monthly Cost$490 Mortgage and PMI$100 Property Taxes$160 Vacany$80 CapEx$160 Repairs$100 Home Insurance$40 Lawncare$160 Management (Undecided if I am going to use this)Cash flow is about $300 a month.Can someone review this deal and give me some opinions on it.

Beds, bath, new builds, add on, ect.the goal is to get the buyer talking and they will tell you everything that they are looking for.