We have 4 units in one building with water intrusion that will probably need extensive repair.  

I am new to the phoenix Arizona area I just came across a deal and i'm wondering if the numbers add up the house has a mortgage on it that the sellers want to be paid off the area where the house is in a decent area they did some work on it they added an extra bedroom so instead of it being a 3br/2th its now a 4br/2th 1,400 sq foot with a lot size over 6000 sq ft the mortgage thats owed is 53k the house needs minimal repairs it really just needs to be updated they want are asking 102k free & clear and they want the mortgage of 53k to be paid off  total asking price including the mortgage price 155k is the total asking price houses in that area have sold for a wide variety of price range is my concern they range selling price is anywhere from 80k all the way up to 210k  properties withing the 1 mile range of the house have sold for 170k to 210k is this a good deal or should i try to go back and renegotiate the deal

Bootstrapping this project so wondering if I can install in phases and what other owners see as the essentials versus things that can be added later.

If you own something directly in a major metro, and it is not too much of a financial pinch to prevent you from steadily adding to the portfolio in a less expensive area, keep it.  

It’s a block away from Temple University which my plan is to rent to students after renovation.

There are multiple and extensive threads on this company and investor experience. 

Doing extensive repairs is rolling the dice.

Once you're done w/ seasoning then it's UP TO 80% of the new appraised value.Now w/ respect to rehab depending on what you did you MIGHT be able to get exemption and have that cost added to the purchase price.

Adding another meter base and city water meter could increase your cost to build a lot, but lower the monthly expenses. 

Also, any opportunity for adding/losing value?