The house had a damaged roof, every drywall, the floors, the AC duct - almost every inch inside was full of mold.

An as far as taxes I don't believe fl tax is as steep as New York .

MFH's *generally* cash flow better and exterior maintenance-wise you've got one facade, one roof, etc., to maintain.

I don't get great deals on repairs like full time rehabbers do and the worst I ever hit was about $32/foot and that was basically a full gut job (50 piers, tear off roof and all decking, down to the studs on everything, new HVAC system, everything

Clearly not an apples to apple comparison.Turns out the owner has made some improvements since May, like a new roof (which I verified by driving past it today), re-tarring the driveway, improving the garage - this is everything I could see from the driveby - will see the interior on Friday. 

You will still need to have a reserve for large capital expenditures like roof, boiler, etc depending on the size of the building.

What I keep for each property Original sale contract Mortgage / recent mortgage statementProperty management info - to include name  / phone property tax sheet (even in mortgage pays it)property insurance info any major repair / expenses (roof/ appliances ) invoicesspreadsheet that shows  rent / expenses / taxes / insurance ..  

This could be a house built within the last 5-10 years or a recent rehabbed house (pay attention to the roof). 

The building I am looking to acquire is a 6500 sq ft block construction shingle roof building built in the 1980s, with a total of 42 garage doors (21  10x30 units with doors on either side so they can be subdivided into 2 units).

Most of the older homes were over engineered however they also are more likely to have been abused meaning too many layers of siding or roofing or crappy electrical or plumbing splices here and there.