You need to get a couple years P&L from the Seller to nail down expenses.  

You really have to nail down all costs associated with a rental and who pays for them. 

@Joe Scaparra rates some valid concerns and @Nasar Bhegani hit the nail on the head.

I feel like i'm watching a old Money Mutual ad :/You hit the nail on the head.

@James Miles, Yep You got those numbers nailed. 

& Account Closed Just nailed the answer with a similar take: if you don’t know the numbers amen how they’re derived, your fudge factor will be too far off regardless of which tool you use. 

@Caroline Gerardo  nailed it unsecrured not for operating money or equity they need for senior lender. 

Any time you have a partner you really need to nail down the operating agreement.

@Michael Zahr As a real estate agent in Houston I feel that @Jason Bott hit the nail on the head.

I wouldn't buy it unless I could nail down the rehab costs.