These units have potential, but I feel the deferred maintenance and asking price seem way too high to me.

Doing the math on the property with a traditional 20% loan it looks something like this Purchase Price (Max Offer Price) $90,000 Percent Down 20% Down Payment Amount $18,000 Amount Financed $72,000 Interest Rate 4.85%  Closing Cost $3,150.00  Costs of Repairs (Make Ready) $7,000  30  Mortgage Payment $379.94   Rental Income Monthly Annual Unit A $1,050.00  Vacancy Rate 5%  Net Rental Income $997.50  Expenses Monthly Annual Property Management Fees $105.00 $- Leasing Costs $50.00 $  Maintenance Reserve $60.00 $ Utilities $12.00 $-  PropertyTaxes $45.83  $ Insurance $80.00  Total Expenses $352.83  Net Operating Income $644.67 Net Cash Flow $264.73 HELP PLEASE, this looks like one of those properties I would be fool to let pass by.

These rates are typical for our market (except for the 3/2) The rented out unit will not cover our entire monthly costs, but we are both living in the unit, splitting costs and saving from a 75% reduction in our monthly living costs by doing so, our savings will actually be $1000 combined and this is what we are using to build capital, taking a % out for vacancy, maintenance, property management, which is ourselves, but also a backup fund.

and you may not need one up front as well if you know a little about what your doing.30% on small loans is not out of the ordinary I do those all the time. and much higher actually the smaller the loans the higher the return.. those borrowing the money know this.. what you need to do is check for usury.. my deals are equity deals so they are not loans.. so usury is not an issue for me.. that's how I can make 50 to 100% apr routinely. but I have 40 years at it..

Downpayment Funding Sources SavingsHome Equity Lines401K Loans2nd MortgagesRoth IRA self-directed optionsDeal StructuresThe deal structure will be to 1.Acquire the property2.Rehab the property as necessary3.Rent out the property4.Try to keep tenants for as long as possible5.Maintain the property6.Rehab the property during turnover7.Keep repeating until a sale or more rentersExit Strategies 1.Buy and Hold and use home equity lines of credit to fund future deals2.Buy and Hold until the rent is 0.5% of sales price3.Buy and Hold and sell to invest in a down stock market.Team and SystemsTeam RealtorContractorHandymanReal Estate LawyerAccountantMentorThink TankMortgage BrokerTitle RepInsurance AgentProperty ManagerSystems Automated PaymentsAutomated Maintenance Request SystemExample Deals 1.Identify a property, say 100K that can rent for 1200 a month. 2.Rehab the property for 10K within a month 3.Look for renters. 4.Place renter in the home with a year contract. 5.Renew the lease.

But we don't know if you're counting ALL the usual suspects with regards to expenses (taxes, insurance, property management, maintenance, vacancy and capital expenditures). 

(I do have a really good credit score and history, at least 750) Will each 4-unit building generate $1,000 at least of cash flow given that we give it proper management/maintenance?

Those 2 things will get you more than anything along with low rent properties with high maintenance tenants that have lot's of turnover.

It's low maintenance, and cost effective.  

It worked out ok for us.I did some landscaping which I liked when I lived there, but it was too high maintenance when we moved and I managed it as a landlord.I did some "home improvements" because we were excited about our first house, which in retrospect did not help might have hurt the rentability.One year after we moved to a house, my wife got a job offer out of the area and we moved.