Evaluating a deal (multiplex) in zip 32114?

Sellers are culling the crap out of their portfolio and trying to sell junk to unseasoned 1031 buyers who do not know how to properly evaluate what they are buying.There are still plenty of deals out there but lots of buyers going for them so those properties last less than a week and under contract typically.

I sincerely advise evaluating that mold situation as soon as possible.

As she became more interested in RE, she started asking me how to evaluate deals...

The market could change tomorrow and you could lose all your equity so then you're upside-down on your loan and losing money on cash flow.I recommend you watch some podcasts on how to evaluate investment property.

Is there a process that I can take to evaluate if I should move forward with the purchase?

I would get a qualified person out there to evaluate where the water is coming from while doubling your efforts to wake up the HOA. 

The only way to do a meaningful evaluation is to a projection of the full income and expenses and look at what the bottom line cash flow and CoC return is.

@Craig Bellot I’ve been crunching the numbers for a while and was having a real hard time making the deal close to cash flow positive, then I realized I was using the appraised value instead of the assessed value to evaluate the taxes.

I strongly believe in routine rent increases and my tenants are not surprised when they get them, but to be clear, I don’t have 120 Tenants that are asking for a reduced rent or I would be forced to re-evaluate my market conditions.