She gave the contact info for the lawyer for us to verify.

All units were 6 months and now month to month.Here are the numbers I came up with have not yet recieved Schedule E or Rent Roll:Potential Income : 26,400 - (8% vacancy 2112) = 24288 (using current rents)Expenses: Tax 1309 (verified at asessor), Insurance 1819 (today's quote), Water 2880, Trash 1200, Lawn and Grounds 500, Repairs/Maintenance (assumed 10%) TOTAL: 9148NOI: 15140If I use VA the loan will cost me 1% for VA funding fee, and about 3K to close so I will assume 10 K to be safe.If he will take 220000 for it, loan will cost me 12,449/year leaving 2,691 in cash flow.CoC Yield: 2691/8000 =34% CAP Rate: 7%What else do I need to consider?

Might simply drop by, with a witness, and verify the doors are locked.

If someone comes to me, I'll send them your way.If you need help in your search or want to verify something don't hesitate to ask.A great is example is I have clients worldwide and things are just as easy as I e-mail them, talking on the phone.

The bigger issue is, make sure that you deposit all funds into your bank account so you can verify funds for whatever you do in the future. 

I've got one that is a cash-cow that I am looking to tie-up, but would need to get bank info to verify everything.

I heard of a story a while back about someone doing this equity strip via liens they created from thin air.... and they had a problem with title company later could not verify the pay off letter when they tried to sell property and they lost a potential buyer trying to iron out deal.

He is a very reliable source but I will also try to verify this elsewhere

They will review the scope of work you want to do, they will review the licensing of the contractors involved and once they are satisfied that what is to be done is safe and within building codes, they will give permission for the project to start (they will "release the permit").At various checkpoints throughout the project, the local building inspector will verify that work is being done property and in accordance with building codes, and at the end of the project, he will do a final inspection.

Verify your rehab costs before you determine your offer price.