@Yinglu Wang on any properties in our area (and especially East Ridge, Brainerd, and Lookout Valley) I always check the tax records for flood zone info prior to making any offer.

To add more context to my question about situation:The previous owner rehabbed the building prior to selling it, including the garden unit.

It all comes down to prior due diligence and common sense.

Some places have very strict rules on the licenses/certifications needed prior to renting out a property, as well as the disclosures that you are required to make to new tenants.

@Darius Ogloza is correct in this is an item you should have known prior to sale.$1300 sewer bill sounds like a past due bill from the previous owner, though?

Look at Loopnet for current and prior storage locations sold that are similar.'

Grade of property prior to reno was decent (approx C+/B-).

If I'm in your shoes, I would advise on letting tenants know that lease reviews will be conducted prior to lease ending so they're not too caught off guard during renewal period.

Even if half the board is sold (supply is down) but the money supply dries up significantly - you are not going to pay what you would prior.

We were conservative on the offer price at that time cuz we were before a turning point and it wasn't clear at that time where the market was going to head towards, and the seller had a higher appraisal prior during the summer.