Be careful, if you end up having to do any repairs that require an inspection from the building and safety department (mechanical/electrical upgrades or something), the inspectors have a habit of noticing other things in the house that don't meet the current code and could lead to more repairs. 

Inspectors could knock on doors asking if neighbors recognize the bio picture associated with the listing, but that's a lot of work. 

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If you can't assess the issues yourself, you should bring a good contractor or inspector to help you out. 

Hire/Find a Team of professionally local and experienced people that will be on your primary Team.Primary Team members are Attornies, a CPA (or accountants), real estate Agents, General Contractors, Inspectors, and Handymen.

So you're in review...did you get the home inspector yet?

Hello Everyone,I have a 40 unit tied up in the Clearwater area and I am looking for a thorough inspector with multifamily experience.  

Besides not having to worry (as much) about tools and equipment being stolen, the values are higher on the back end (selling) so it makes the whole project easier or at least more enjoyable to work on.You can certainly do rehabs in tough areas but the #s will be smaller (not to rehab, but on the ARV and rents) so you really need to make sure you don't pay too much when you buy because, if you're not used to the area, you may be unpleasantly surprised by smaller #s on the back end.Another thing is that, somewhat counter-intuitively, sometimes the building inspectors in tough areas are actually pretty tough/demanding themselves.

Take your questions to the home inspector, it's his report and you probably paid for it.

I guess the broader question is - how do most folks handle inherited tenants... i spoke to one of them while our inspector was going through the units and she sounded like she's been living their happily for the last couple of years while her neighbor has been there for almost 10 years now.