Cool to see another KW agent here, and I'm starting to discover more of us.

If he doesn't keep good records, then you have a bit of a problem, and will have to calculate it yourself.Finally, with all the information you've collected, you determine if it is a good deal or not.Based on what you listed above here's an example ballpark monthly budget:Principle & interest: ~$1,000 ($195k loan @ 5%)Taxes & insurance: $300-500/mo (depending on your locality)Utilities: $200/mo for water (most 4-units has the owner paying water)Vacancy: $140 (based on 95% occupancy at $2800/mo)Maintenance/Capital expences: $280 (standard 10%)Management: $280 (10%)Total: ~$2,300-2,500, leaving you with a profit of around $100/door, with only $10k invested. 

That's edging in on the 2% rule and those tend to be in less desirable areas. 2) Would the tenants be paying water/sewer? 

If you are cash flowing a few hundred dollars a month and need to replace a water heater is that going to kill your numbers for 6 months?

But if there is water again on the first floor, then whatever they did in the crawl space under the  second floor didn't work.

I'm looking to fix some water damage and a handful of other issue at one 3 unit building.

We recently sold a house that had sever water damage.

Nice boardwalk with a water and theme park.

This will fund 100% of all closing costs, including the purchase price, title fees, HOA, sewer, water, past due taxes, etc etc.

what is lot rent, what is the utilities....private or city water/sewer.