The problem with low end properties is the relative cost of repairs.

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.