Current rent is $700Total monthly income is $7,950Previous years expenses were ~$15,000 utilities (has city sewer and water) ~$20,000 Maintenance and upgrades ~$10,000 depreciation ~$15,000 operating expenses With vacancies, the previous year total income was ~$75,000Asking price is $225,000On the surface does this look like a good deal?

Anything blatantly ugly or broken

I reckon I'll soon learn what needs fixed in the eviction apartment (I see a small window is broken and when I asked the downstairs tenant what happened she said the upstairs tenant told her he broke the window trying to kill a fly....)

Sure, get all the upgrades you can afford, but after refurb is done and walking thru, it should still retain the characteristics of a Victorian and not look like the 'Disney's World of Tomorrow'.  

(Nicer than in my own home, which makes me now want to upgrade my own homes ceiling fans.

He got them from people upgrading their generic remotes to a more secure device that ties in with their security systems.

Ask for a current rent roll and '12 trailer' which is the last (trailing) 12 month's income and expense broken out by month.

.- First, I agreed to let the tenant pay the security deposit with broken up payments on agreed upon dates AFTER the move in.  

Most purchase and sale contracts I've seen have a Financing section broken down into A.

She hasn't broken anything in the lease/rules until the tampons.It seems like most of you guys think that would be appropriate.