The company’s name is Cleaning N Repair Pro’s.

If way under market you may be able to fill the other units with a little clean up.

Tenant Pays that let the water overflow onto the floor, You get bids for repair, may or may not be an insurance related claim, you could check, does your renter have renters insurance, maybe they could file claim with their insurance.Take photo's and your gonna have to work with tenant living in damaged unit, so be prepared to be asked for rent reduction for days of inconvenience. and clean up of their items. and this should be part of what's included in costs in my opinion. 

I ran the numbers but not 100% sure I'm getting the correct calculations so I wanted to reach out and see if someone can help us.Here is the info on the building we want to purchase:11,052 sqft  $169 per square footNeeds about $100,000 in repairs (roof, electrical, paint, cleaning etc.)Rents for 0.82 cents per square foot.We would put 25% down and pre-approved for the rest of the purchase price at 3.85%A similar comp down the street that just sold:11,747 sqft$163 per sqftrents for $.79 per sqftThe building was move in ready, no repairs needed.When you compare both properties  it would seem that you would come to the immediate conclusion that we are getting a bad deal but I'm just wondering how much to offer.

Renters could have the option of using us as their utility to reduce their energy costs and have access to clean energy.I think renters will be a good market for paying for solar energy through a PPA since they don't own the building or panels. 

When we explain to them the reason we want the code violations is to try and connect with the owners of these dilapidated properties and buy them to actually clean up the 'ugly' properties in the town they are glad to help.  

.$45,000 +closing costs, debt service (interest or whatever terms you have with lender,)  holding costs (taxes, utilities, insurance,)$5,000 seems extremely optimistic unless you're certain the only thing you're doing is painting and cleaning up some floors.With those numbers you're already creeping into the $55,000 range.  

He is renting out to 12 students each with there own room and hiring a part time lady to cook 2 meals for them a day, clean twice a week and run errands..

Certainly nothing to be excited over but I can separate the electric and put that money back into profits and I want to use the cash flow of the building to clean it up, and raise the rents a little more and sell it in 5 years for a nice profit.Thoughts?

It can be hard to foresee what repairs will be needed, but landlords should consider expenses like carpet cleaning, paint, electrical, plumbing and any other fixes that keep a property habitable for renters.