Find the best licensed electrician, master plumber, HVAC and roofer in your area and arrange for them to inspect. 

For your lake vacation rental...fishing equipment, a non motorized boat, a well stocked kitchen with all utensils and gadgets, a wine fridge or a kegorator with a craft 1/6 bbl, gas or charcoal grill, chimenea, cornhole game, a SMART tv, an accurate pellet gun with pellets or a scoped single shot .22 or .17HMR, some adult movies and a blue ray player in the master bedroom with an HDTV, bubble bath if you have a tub or jacuzzi, an indoor/outdoor sound system, some mountain bikes, binoculars, some games like trivial pursuit/electronic darts, two single shot shotguns and a skeet thrower with skeet, an outdoor firepit, a "help yourself" herb and vegetable garden, tiki lights, a small trebuchet for the kids, some basic tools like a socket set/wrenches/screwdrivers, and finally the most important thing...mosquito repellant.

Ave money you can easily buy business through marketing and ramp  up quickly but you need to pick  a market and master it then saturate it with your marketing.

The upper unit is leaking into my lower unit master bath.

The low down payment would only be to owner occupy one of the units. 3 units are identical, the "master" unit is actually a separate 2/1 house with a private yard, fireplace, and private swimming pool (which is empty and needs rehab). 

A good key option would include a master key.

BP investor, I have been looking at a few small(5+) to mid (30+)  units and have come across something called a Master Lease. in the present research that I have conducted, the Master lease looks like a hit run for the investor.

I did ask if seller would be interested in a master lease agreement and he declined.My question is: How do you determine the value/offer price on a property like this?

In the last few changed the 3 bedrooms up to 2 and made a great master and bath.

I did ask if seller would be interested in a master lease agreement and he declined.My question is: How do you determine the value/offer price on a property like this?