Rents are under market by $50-$100 but I wanted to run my numbers on current rents.

You can also google search calculators and find some decent ones if you run out of uses for the BP calcs as a free BP membership user!

You should really learn to evaluate all the expenses and run the numbers, Cha Yang.

I think it was caused by some run-off issues with water.The bottom line is I need to get it fixed.  

If this investment doesn't hurt me in the long run I think I'll be lucky.

I would have the ducts cleaned, furnace/AC system cleaned as much as possible, change the filter, and then run an ozone machine with fans set up to circulate the air for 48 hours.

I am so eager to invest, but I worry that if I started investing now (keep in mind I have little knowledge in real estate and have no money to put down) I will run into problems and I don't think I can afford that. 

@Ryan McEniff based on my education and training when analyzing a deal I use the following for operating expenses: Check with the local area you are buying by asking the local experts, but as someone who is a real estate Broker in CA, our average closing costs on the buy side for a buyer will run between 2%-3% of sales price (most of that comes from lender origination fees). 10% vacancy (most deals I see when being offered for sale are between 5%-8%, but if it pencils with 10% I know I'm probably covered on vacancy)10% for property management (until I know exactly what the PM fee is then I would modify, but average is 8% to 10%)5% for R&MActual Property TaxesInsurance (Get quotes from 3 companies and take the average)Landlord Utilities (12 month average.

I'm sure the buyer is an investor ... ask him if you can tag along on the deal and help out here and there ... check in on the job site from time to time and take pictures for him, run to home depot, etc.

Can the cables be run underground, and  the transformer put in a standard ground box?