The house is in terrible condition, she is a hoarder, and has no dependents. 

I’m currently following new leads towards other real estate opportunities aside from my usual multi family buy and hold position because the last few buildings I’ve seen have been terribly price inflated and so disgusting they should have been condemned.

I say, that is a great deal for a second.Now, in this real example, the purchase price of $415k and rehab of $16k (that seems terribly low, so red flag for me on this portion), places this at an all-in deal (acquisition plus rehab) of 75%.

For more context, they took out a loan with Unison (terrible idea, they know now) and it would be about 300k to buy out the unison loan. 

The building was in terrible condition and deteriorating daily.

Net income = $39,240Monthly operating expenses are as follows: Trash - $33, Landscaping/yard - $66, Electric - tenants pay, Water - $95, Maintenance $87Monthly taxes about 3KSo, gross expenses are at $41,064If I'm doing the calculations correctly, my net operating income is -$21,888 and cap rate is -3.4%.Obviously the current numbers look terrible for this investment, but I feel like the rent should be raised significantly based on comps (above 2K each unit). 

This just looks and smells terrible on the face of it. 

However NY has such terrible landlord laws

It had terrible photos and looked like a ton of work...which it was, but I saw the potential.

Most agents on here are terrible, and not "investor-friendly".