I have a property that I am interested into purchase and repair, however I need to find a way to approach the owner, who has neglected the property and violations, and would like to make them a cash offer.

Something goes wrong such as big repairs, tenants not paying, etc, there's no other properties to help you through the rough patch.

(As I am in the process of repairing minor credit repair). 

Hey everyone,I wanted to post and see if anyone who’s more experienced than myself can help me understand rough estimates for painting, drywall repairs and cleaning costs for a rental on the west side of Cleveland.To give some general information, there’s some dry wall cracks, painting of the entire interior which is 850 square feet and deep cleaning of the entire interior since the former tenants left behind a fair amount of food and broken furniture.

The best way to feel comfortable purchasing a flip is to know that all of your numbers (after repair value, rehab costs, and holding costs) are as accurate as possible.

That covers lost rent due to down time as I do repairs, paint, etc in between tenants.

My concern is that the house is in need of major repairs. 

After the inspection was done it took them a month just to find contractors to do the repairs.

Why deal with tenants and toilets, maintenance and repairs without a premium?

@Jeffrey H. ok so here is the numbers from the OM that the broker furnished to me: ESTIMATED LENDER ACQUISITION COST:List price: $1,175,000 ( @ 28 units = $41,964 per site)Buyer requesting Down Payment of 30% = $352,500Projected Lender Financing: $792,500 @ 5% FIXED 30 year AMORT with a 10 year DUEINCOME, EXPENSES & CASH FLOW:Actual 2016 Gross: $212,752Actual 2016 Expenses: $95,915 (45%)Actual 2016 NOI: $116,837Projected Lender Debt Service: $57,494Projected Net Cash Flow: $59,343FINANCIAL INDICATORS:Cap Rate: 9.16%Projected Total Cash Return: 18.96%PROPERTY DETAILS:All age park28 Homesites# of Park Owned Homes: 28 (100%)Occupancy: 100%Utility Reimbursements: NO2016 INCOME AND EXPENSE ANALYSIS:Total Net Rent: $212,752Total Operating Income: 212,752Real Estate Taxes: 4,054Property Insurance: 5,524Utilities ( all lumped into one total, broker and/or seller did not offer it broken down individually ..yet): 30,658 Payroll & Benefits: 26,225Maintenance & Repairs: 2,058Administrative/ Office: $26,668Advertising & Promotion: 728Total Operating Expenses (45%): $95,915--------------------------------------------------------------------------------------Net Operating Income: $116,837The screen shot copy of the rent roll excel sheet i am waiting on further explanation from broker in order to determine how to interpret all the acronyms that the seller put in it so i can begin to figure out the rent roll for that month.