They give you three hours to take it, I finished it in 30 min flat.

Being familiar with breaker panels, that actually confirmed my initial suspicion!

Most agents seem to like to live big when times are good and be flat broke when they aren't.

Old fuse panel, with only one switch in the basement, and 5 lights on individual pull switch style lights, and only one light in the attic.

Maybe on a per pic/hour basis with the material going through you, otherwise maybe a flat monthly rental.If you have a good idea, sandbag, never give out 100%, that keeps you in the loop.

I'm looking for profitable 2-4 flats where my wife and I can live and rent out the others.

A lease option is one strategy, if you start changing one to financing or a longer term, or requiring the tenant to assume maintenance, you're not in a lease option situation, a land contract or contract for deed becomes more appropriate, a subject to deal could better be used or just flat out seller financing becomes more appropriate.

I'm no mechanic so completely shooting from the hip here, but knowing how much a new car, depending on the model, depreciates just from driving it off the lot, combined with the thousands of dollars it costs for replacement quarter panels, bumpers, trunk or hood, individually, plus $800ish per airbag, plus thousands for the labor, it doesn't seem that impossible to me.

It's a 4 flat 3br /1 bath.

Look at if the water and sewer rates per gallon have stayed flat, gone up, or gone down the last 5 years.Water (liquid gold) you are looking at 60% expenses and not the typical 50%.54,000 x .60 = 32,400 = 21,600 NOIAt a 10 cap you are looking at a value of 216,000 for resale before commission costs and buyer concessions.At purchase of 150,000 and projected repairs being more 50k I don't see the value in this deal.