Here's some backstory before I get to the details - I am in the process of evicting one of the tenants in that 4 unit for multiple lease violations (non-payment of rent, installed a window a/c unit and has not taken it out despite multiple warnings, and has had 2 people living in the unit who are not on the lease for the last 6mo).

Well, I have to contact the seller to see if those details are correct.  

There is still plenty of gray area on with these new rules and others in tax and legal have written more in depth analysis.

I put together an Excel analysis spreadsheet that adds those factors to the calculations, so if you'd like a copy, I'd be happy to send it to you. 

I've been working on getting 34 acres for a week or so now, pieces are starting to fall into place, other pieces are showing more detail.

Did you get a tenant estoppel form that detailed the security deposit rent etc. when you purchased?

He should talk to his attorney to find out the details.

Market analysis is the most important analysis you can do. 

This post right here might be the most detailed I've ever talked about it in fact ;) as for timelines: if you want to get a great deal, I recommend moving very quickly.

@Nic Lee i have some international commercial off the market deals, feel free to connect with me so we can discuss this in details.