Ask to see the financial filings and not just go off what they say it can get .

See the 3 things after the financials Purchase price: $390,000 I can get financing at 25% down, 5.5% amortized 25 years Per seller: 90% occupancy or higher since they owned in 2002 8 - 1 bed/1 bath at $550 per month 6 - 2 bed/1 bath at $650 per month *One of the 1 bed/1 bath has an onsite manager/handyman living for free so there is no property mgmt costs in the expenses* Owner pays water and trash 2017: Total Operating Income: $79,989.50 Expenses: - Lawn Maintenance: $1,800 - Water: $6,816 - Trash Collection: $1,740 - Pest Control: $820 - Supplies: $4,280 - Repairs: $9,852 - Insurance: $4,153 - Property Taxes: $10,515 Total Expenses: $39,976.82 NOI: $40,012.68 2016: Total Operating Income: $83,154 Expenses: - Lawn Maintenance: $1,800 - Water: $5,820 - Trash Collection: $1,680 - Pest Control: $604 - Supplies: $6,639 - Repairs: $9,910 - Insurance: $4,153 - Property Taxes: $10,521 Total Expenses: $41,127 NOI: $42,027 So if I’m all in at $115k (down payment + closing costs), assuming 40k NOI, i’m looking at 16.4% cash on cash with one unit vacant at current rents (without anything set aside for capex however) WHAT WORRIES ME: 1) No washer/dryer connections AND no laundry facility on site (would have to build a new building and run new plumbing to add one).

My partners and I will hopefully have as much success as you have and because we’re on a similar pathway, I’m interested to see the answers that come back.

Account Closed I would also want to really see the OM for what they are really offering.

If you see the ad other places on the web, that will verify your thinking.

This is a great question and I’m curious to see the responses it gets.

I’m waiting to see the housing price to hit 2006 pre-recession price again and higher the next two years...

Some investor buyers will bring their contractor with them when they go see the property. 

The broker admitted that didn't see the request from the insurance company that they needed another signature, and they didn't inform him as well".

It doesn't sound to me like you're a professional property manager anyway - you just look after your own units - and unless you think there's a chance your friend might file a complaint against you, I really don't see the harm if it's one unit.