If not, then I doubt the seller will be willing to give too much based on the fact he/she knew it was old and probably took that into account with their list price and ultimate contract price.

@Wayne William don't try to assess a property value based on taxes or tax assessment. 

Whoever is telling you a depression is coming is not basing it on economic principals. 

Just wondering if this is a good sign for buying...Small town, tons of growth in the county....someone just built a 42 unit rent based on income smack dab in the middle of said small town. 

I am sure that any new comer  would believe that he is properly vetted just based on that alone.

Get estimates for other services - lawn care, snow removal, etc.Use these estimates to then run your analysis and figure a maintenance schedule and CapEx budget based on the inspection.

You can make sure assumptions based on the condition of the neighborhood and outside condition but there is always a wild card involved. 

Based on the zoning I can do nearly anything I want.I am looking for a low neighborhood impact business that has a high cash flow with low entry.My thought is in buying shipping containers and packing them in tight on the lot and creating a commercial storage business.By my estimates the property could generate up to $96k a year with less than 1 year's income to reach full build out.Any one have experience with this model?

This makes the selling price $300k higher than the numbers you would get from calculating the price based on a potential buyer's expenses.

Therefore, you can transfer other IRAs or qualified plans to the IRA and can also make an annual IRA contribution based on your earned income.