assuming they are $650/month per unit, a quick back-of-the-envelope analysis shows the following:$650/month rent x 8 units x 12 months = $62,400 gross potentialless 15% for vacancy, loss to lease, concessions, etc = $9,360Effective gross income (EGI) = $53,040less 55% expenses (estimate, you need to verify expenses) = $29,172Net Operating Income (NOI) = $23,868Applying a 10% cap rate to deal (I can't imagine it is 13% if it's in a decent area) = $23,868 / 10% cap = $238,680 value

That preserves our "imagined" 16K profit, but add in minor catastrophes and sacrifices to the RE gods, and we're at 10K or so.  

I don't imagine there are any codes specifically related to interior drainage systems.

I didn't see them in your list, and if the property has been vacant for 8 years, I would imagine that those mechanicals need to be replaced.

I have done my due diligence around property, city codes, cost of built up and finances and think that if all goes well I can be in a good new home at price point I can never imagine in this area.

if you had to do it all over again, and you had about $10,000  and a full time job how would you start your business? That's the position I am in and I am asking for guidance.  Thank you kindly!PS I am in Broward Coun...

We buy only FEMA trailers, but I don't imagine you have them there.

Imagine over 100k home price)So I google the property because I'm paranoid and it's being sold online by other people at $35k more than our contract price and I realize this "cash buyer" of mine is wholesaling my property!

I've been there once or twice, drank some beers in a cute pub downtown- I think it was called the Pour House?

I've been pouring over the forum and podcasts as many of you suggested; so much info to get through!