If you do not change the key and a key from an ex-tenant is used to break in and rob the place you have some responsibility. 

The biggest thing to consider on these is Cap Ex.

Later that year they divorced and unbeknownst to him his now ex-wife forged his signature and quit claim the deed to herself while he was away helping his sick daughter in another state..

From the city guys coming out the guys doing the work for me. picked up two more opportunities in the same neighborhood as they felt I should make offers on the houses because the owners are being fined but not pulling permits and doing Shady work.II had an ex partner I used to tell him he'd step over a dollar to pick up a nickel busy try to cut corners. in this business it's very easy to do the right thing pull a permit do the right correct work and it'll pay off in the long run. in this situation before I would close on the unit the gentleman mentioned above I would call the city inspectors and get their opinions on things now it might even help you be able to lower the purchase price.

I don’t see any repairs and cap ex.

A call to inscompanies will give you a ballpark price.Those numbers are easy but rather maintenance, cap ex, and the other real numbers are often more challenging.

Then you'll need to factor in capital ex., repairs/maintenance, management fees, and vacany %.  

Hi guys I am looking to purchase my first Multifamily this would be a first deal in real estate I found with my broker a property I am thinking maybe a good deal but I would like your thoughts on it . 4 unit Multifamily centrally located in west Chester NY Income 3720$Expenses Mortgage insurance and taxes is 1276$ a month Vacancy 186$Repairs 186$Cap ex 186$Management 372$As of now the landlord pays electricity and gas 600$ a month Water and sewer 50$ a month I was thinking if I take the property and put separate meters for water and electric I can have the tenants pay their own utilities Please share your thoughts on the deal

The 1% rule does or does not include the Cap Ex improvements? 

Soon to be ex lives in another country and not responding.