Let's talk strategy, and nail down your steps to get there.

., if you can RUBS the building... then you get $7725 back (2100 water, 4500 gas, 500 garbage, 625 electric), and you are now at $8,725NCF per year... of course the RUBS costs as well.I would look at this deal more closely, and make sure you have your financing nailed down, along with a strategy for increasing the income of the building, as well as some worst case scenarios.Good Luck!

@Rebecca Holmes I never thought of the neighborhood and city meetings, that would be a good idea once I nail down where I want to invest. 

Oh, and that quit claim deed you get to hold, wait till your buyer has his attorney nail you for an unlawful foreclosure circumventing foreclosure laws.......what, no security agreement allowing a non-judicial foreclosure.....you might get to go the judicial route after all!

Max & Brandon hit the nail on the head.

You need to get a couple years P&L from the Seller to nail down expenses.  

It's crazy how much of my valuation hinges on this one number, and now that I'm getting ready to put in offers, I'm starting to realize that my model will suffer from serious GIGO (Garbage in garbage out) if I can't nail down rental comps.

Hi Nail, I appreciate your input.  

If they win the re-classification angle then you're nailed!

I have been told this as second hand but you just nailed the coffin saving me at least that much if I were to pull that trigger. :) Nope not now, thanks.