It also isn't really going to help much if the s hits the fan because I'd have to potentially sue to get them to perform.

The area I live in was pretty heavily hit by Hurricane Sandy.

So if you can document that 6 units are rented and have been performing for a long period of time then you count the income.650 X6 = 3,900 X 12 = 46,800 gross income.If tenants pay all utilities meaning the trash, water and sewer, gas , and electric, etc. then use 50%46,800 divided by 2 = 23,400 so at a 10 cap would be 234,000 sales price.

Water and electricity will be paid by the tenant.

I am told that listing agents get the listings from the banks so they know about foreclosed properties before they hit the MLS so I would like to know the best way to go about finding "listing agents" so that I can have a chance to purchase these properties before the go on the MLS...

I should have reviewed that before I hit reply.

It sounds like you are just about set to hit the ground running.

Tenants pay electric.

Some get burned and some hit the jackpot.

Electric and Gas are on and we are starting with the installation of the Furnace and A/C unit as well as applicable ductwork that needs repair.