He provides the following:4 studio apartments @ $1,000 per month4 one-bedroom apartments @ $1,250 per month4 two-bedroom apartments @ $1,500 per month4 two-bedroom apartments @ $1,800 per monthProperty taxes, $40,000 per yearInsurance, $15,000 per yearWater and sewer, $12,500 per yearElectricity for common area lighting, $2,800 per year"You confirm the rents by examining the leases and you verify independently that the expenses are accurate as quoted."

Please feel free to PM me with any follow up questions.

What followed was a year of legal maneuvering, claims, counter claims, depositions, etc.

If it is a flip I'd look at recent flip comps and see what their rehab was like to get an idea of what the market is requiring to get to the desired price point.I would follow the same process for a long term buy and hold.Mike

This avoids the issues you get when taking on tenants that were not properly screened by the old landlord.Your only option now is to walk away or push current owner to evict or move to cash for keys. it may be to late to request the unit be delivered vacant, but if not that's what I would suggest doing. if you follow through with the purchase, keep this tenant on the shortest leash possible and start saving up for the (very likely) eviction cost.

I look forward to following each of you in your life.  

I just started listening to the bigger pockets podcast 2 weeks ago and after years of making excuses as to why I couldn't invest in real estate, I'm pushing that all aside and going for it!

You probably won't be able to rent it seasonally if you plan to follow the 6 month > rule. 

It is important that the directions for application that are printed on the label are followed for any product used as a repellent."

Follow this person around and take notes on everything you're told and over time you should get, at the very least, an indication of how to estimate repairs and timelines for these repairs.