Often times, investors tweak the #s to make the deal barely function (on paper) and do not leave any margin of error. 

I noticed when we did the inspection yesterday that neither of the smoke detectors in his unit were functioning. 

@David Khalfin, when you analyze a deal, you have to account for both operation expenses (what you already do) and capital expenses (renovations/big ticket items needed to have a functional, clean, and safe unit).

Use the search function if a BP member previously was in search of a CPA.

Functioning oak cabinets, oak baseboards, and outdated fixtures don't "need" to be rehabbed and would qualify as move in ready in my mind.

We lived there with a non/functioning oven, a kitchen the size of 2 airplane bathrooms, for two years.

Use the search function if a BP member previously was in search of a CPA.

Despite the plumbing being old, it was still functioning as intended.

Would reiterate what others have said in terms of using BP's search functionality to find other investors nearby.I know there is a Hudson County MeetUp (if I can find it I'll send it to you). 

Basics: *All* of the commercial RE, along with the modest but functional building that houses our business, is valued at somewhere around 600k total.