Basically you need to understand the books for a multi-family property, and know what is average cost for each line item, and know which line items should be present.If something is out of line with what you expect it should be--investigated further.If you see no charge for Landscaping (Lawn Mowing) for example, or see it at $30 and you know the average for the area should be $1,000 for instance--find out why.Maybe they put in in Xeriscape, or maybe the owner just cuts it himself and the $30 is for a couple of pretty Azalea's he planted next to the front door to spruce it up for sale a bit.Or maybe the lawn has turned to dirt (and mud) from so many people walking across it (as in the pic below) of the Class-C apartment building. 

If they are more than 15% below market, I prefer to get rid of them and start fresh. 

We have already replaced the carpet in the whole house with high end carpet and padding, replaced some appliances, had a brand new AC and heating pump installed, fresh paint on the whole interior, and redone the kitchen and bathroom cabinets.We would like to keep our monthly payment the same as our mortgage, so rather than sending the $2600 to the bank every month, we would send that money to you.

Something to investigate!

The bedroom he's in has new carpet and was freshly painted so I'm assuming those would have to be replaced and possibly some items around the unit.

Terminate the lease in November, clean the place up, and start fresh with a well-qualified renter that pays market rent.

It would be worth your time to investigate this and get the answer before you make a mistake and open yourself up to a Fair Housing complaint.

If they are licensed, they will investigate Im sure.

Get a 3+ day "investigation period" and get the buyer to put in the 3% deposit. 

Not sure how it works, so can someone tell me their experience using HELOCs from freshly rehabbed deal to scale to next deal?