Initial cap rate looks good but I'd suggest making any offer subject to verification of rent (audit) and interior walk through - pretty standard. 

I agree that proper reserves/cash flow are what it takes to get you through pretty much any challenge. 

@james masotti  It's so funny that you say that because we were just talking about the market turn yesterday at my local reia meeting and I was explaining like it is at  Its peak and about to turn so my plan is to flip this particular property as soon as possible just to create enough capital to then invest in a multi families because at least by doing that Having flow every month it will supplement the Down turn Because in my market that's pretty much what does make sense And yes it's a pretty nice area but I gotta say the deal is good due to the fact that we got a distressed property owner so it almost just fell into our laps 98 % hard work and positivity 2 % luck lol 

That's a pretty inexpensive fix and should at the very least bring in more buyers.

Even the rent being paid now is pretty low for that area.

I feel the seller, has it priced pretty high as well.

@Justin Brown$50k / unit is pretty typical for what I'm seeing things go for.

It pretty much broke even that is why I was reluctant, I had it appraised this year and it has appreciated 49k from my original purchase price. #2, SFR I bought from a wholesaler (you can see the pictures and numbers from my previous post).

I can evict within 30 days if needed and I've never had a judge not grant an eviction, Constables usually act pretty quick if/when it comes to that.

I've heard this is a pretty common problem with selling and people get through it all the time.