@Kevin Phu a factor not mentioned yet is cash reserves.

As mentioned above it is depending on the market and what the neighborhood has to offer. 

I am 36 years old married with a wife and 2 boys ages 2 and 4.

Like I mentioned- I am new to probate investing so this is all unfamiliar territory for me.Thanks in advance for any help and/or advice. 

That's going to play a big role when you refinance in a year like you mentioned. 

Before you purchase anything I would keep the local manager on my side, and not mention that you have got a comparable quote from someone else.

It is interesting that you mention the saturation of apartment rentals.

Even I don't try to tackle some of those things (septic, some foundation issues, under-slab plumbing issues, etc).What I would recommend is that you include the cost of the inspections in your analysis/offer, assume that there are no issues with these things, and then re-negotiate if your inspection turns up issues.For example, to address the areas you mentioned:- Septic:  If the property is on septic, budget $500 for an inspection, pumping and cleaning of the system. - Foundation:  If there is absolutely any concern about foundation issues, budget $250 for an engineer to take a look and write a report.- Leaks Below Slab:  These are very uncommon, and would likely not be found by anyone on a casual inspection. 

The roof has an unknown age as no new permitted roof has been pulled in the past 30 years, but no appearance of roof leaks currently, but looks aged.The bank asked me to give an offer...Comps in the area have sold in the past 12 months from 110-119k, rents seem to be around $1000-1100/month

I mean share the document. as mentioned to you on email i think your experiences are way off or not set correctly. 4 plex should have 8k in miss.Talk later today.