Discuss openly with your agent about your plans and what you bring to the table.  

Below are some links to get you started.https://www.biggerpockets.com/renewsblog/2013/04/09/how-to-buy-a-small-multifamily-property/ (How to buy a small multifamily property)http://www.biggerpockets.com/renewsblog/2014/07/19/how-to-buy-a-duplex/(guide to buying a duplex)https://www.biggerpockets.com/renewsblog/2015/11/16/how-to-choose-areas-multifamily-deals/ (Choosing multi-family deals) BP Podcast 061:How to Succeed in Multifamily Investing – A Unique Conversation with Josh, Brandon, and BenBP Podcast 131: Investing in Multifamily Properties in a HOT Real Estate Market with Serge Shukhathttps://www.biggerpockets.com/renewsblog/2013/03/07/profitable-ethical-landlord/ Much success,Jesse

Worse case - you may have to evict them and that adds to time and cost.That being said, walking away from the table with $15K - $18K is good enough for me and beats leaving your money in the bank doing nothing.

I've even walked away from the deal and he calls after a few weeks asking about my offer and coming to the table with a little bit more.  

This is just unique to me.5.

Jack,Each situation is unique and each should speak to you.  

The interior drain system the "basement guy" suggested would be more appropriate if the water table in the area is high and the water is seeping up from the floor.

You may have seen me mention this but I put my marketing on hold after one mailing because I saw how many potential deals I was leaving on the table if my only tool was to offer a low cash purchase.  

Most private lenders are over 10% with about 2 to 5 points on the deal and most won't lend at the about 70 LTV of the subject property.If you have this offer on the table, I would seriously consider taking it immediately as long as the cash flow makes sense.

If I want 30% profit from each flip, I need to purchase and estimate my repairs correctly to achieve that and I should have a solid handle on that at the closing table.