The Home has the following:First Floor and Finished Basement:(Owners Area)First Floor: 2 Bedrooms, 1 Bath, Office, Kitchen, Living Room, Dining Room, Enclosed Porch Finished Basement: Full Bathroom, Laundry Area, Living/Recreational Area, Tons of Closets/Storage, Mechanicals RoomBasement In-Law: (Tenant)Separate Entrance, 2nd Shared door with Owners finished basement, Kitchen, Bathroom, Living Area/Bedroom, Closet SpaceSecond Floor: (Tenant)Shared Side Entrance with 1st floor owner, 2 Bedrooms, 1 Bath, Eat-in Kitchen, Living RoomMy issue is this:Currently the owner rents out the 2nd Floor and also rents the In-Law suite to a "relative".

An older home like this will have maintenance issues if the plumbing and electrical aren't updated and the mechanicals still have good useful life.

I'm just wondering about the mechanics of it. 

@Mark C. what about differences in regulations/laws or mechanics of the deals?

I am typing up a Mechanic's Lien Release to be used when completing my rehabs (in Virginia) and making the final payment to my contractor. 

The wire mesh, needed for the stucco, had to be mechanically fastened to the brick, which will mean there is a lot of holes in the underlying brick.

You have capex listed, but $1800 per year doesnt seem enough to fund all of the floor replacement, mechanicals, roof, etc.  

Do you know the approximate age of mechanicals, roof, appliances included?

I forgot to mention that older properties almost never have sub-metered water and likely are not plumbed with "home runs" from the mechanical room to each unit.   

Yes be sure to read the agreement, it could also include non-MLS properties IF (emphasis on IF) the agent makes you aware of those properties and he/she is the reason you are interested in buying that said property.