He insisted we install a landline phone, AFTER we moved in.

Your property taxes and repair expenses seem low and unless this is in the Seattle metro a 5% cap rate isn't the greatest on a triplex. 

After numerous phone calls i was provided the roll at an expense.

It looks like a collective amount of garbage around the outside and has maybe $60,000 in repair cost, and the ARV is about $200,000 but I don’t know how to factor in the code violations!

Introduce yourself and let them know where to send rents and who to call with questions or repairs.

There's about $50K in repairs that should be the seller's responsibility, so now we have to decide if we want to ask for that at closing, or if we'd rather not have a retraded deal attached to us, and just bump the renovation budget from $1.34M to $1.39M.

I already got the repairs done and emailed over itemize list of repairs.

I recognize that you are putting a lot ($50k) into reno and repair immediately, so that should buy you some time.

As mentioned earlier, low rent properties have risk in that one major repair like a roof can eat up many months or rent.

His niche is very different from what I am familiar with, so I'm having some trouble running the numbers and I thought I'd turn to you guys.So he(my relative) has been doing this exact strategy for a few years and has done a good number of deals(~40) so I'm confident he knows what he's doing, but his strategy is as follows:Buys a distressed trailer(mobile/manufactured home) repairs it, and then sells it to a tenant that either can't qualify for a normal  loan, or doesn't have the money to purchase a normal home.So for this particular deal, the numbers are as follows.Purchase price of $5750.Rehab of $8000.Rehab should take roughly 3-5 days.Selling we are assuming a month, but he says typically less.Taxes are around 600/yr(which the new owner will pay) but accounting for the month we have it, $50.The lot rent for the trailer is $350.Closing costs would be maybe ~$100.We'd sell it for ~22k, with a down payment of 2k at 14% interest for 75 months.So our purchase and rehab would be ~$13850, plus a month of holding for $14250.We'd get 2k back bringing our investment back down to $12250.We'd bring in 400/mo from the mortgage payment.As far as I can tell, this would be about 35-40% cash on cash return.Please go over these numbers and tell me if I'm missing anything.