Have my eye on a 16 unit that has been hit with a death of owner and now illness of surviving spouse(at least that is what RE agent claims.) 

Focusing on income over appreciation as this is our retirement, although my wife and I have several non-RE streams of income. 

Does anyone have any recommendations on an investor friendly Real Estate agent in Madison WI? I'm looking for an agent that is not only experienced and knowledgeable with small multi-family apartments (4 units or less...

@Olivia Umoren, first let me congratulate you on taking the step towards recognizing that RE is a GR8 investment if done wisely. 

Why re-invent the wheel?

Welcome to the forum and all the best on your RE journey

Re laundry money, i never include this in my calculation - i simply look at it as bonus income. your vacancy at 3% sounds low, again not knowing the location its hard to sell. 5% would be my lower estimate in high demand location and proven 100% occupancy in the last 2-3 years.Repairs and maintenance, unless the property was recently renovated top to bottom or you would renew the large items like roofs, HVAC, water heaters etc 5% and 4$ is tight. 

Recently I decided to chase the idea that's lurking in my mind of investing in RE. 

A RE lawyer can help you set it up.

I've had an interest in RE for about 3-4 years.