We have no issue doing exterior rehabs and landscaping while a tenant is in place, but it can be difficult to rehab an interior while a tenant is living in the space and you would likely want to hold of on anything short of emergency repairs such as a water heater or HVAC replacement, floor, ceiling or wall leaks, or mold.If these elements of the house are sound and you got a good deal on the house, you should have no issue finding a bank that will refinance the loan.

To me, you are mixing elements from both levels, which is perfectly okay.

This is located about a block from Coonley, it's a prime location, but the house needs tons of work: roofs, decks, dated baths and kitchens, HVAC heating issues, floors, paint, etc. 

Unpaid rents prior to your purchase, if collected belong to the prior LL.If the tenant is getting basic services, heat, water, safety etc then you wait till the lease is up to start any renovating-or you do cash for keys or pay for their lodging while you are fixing the place.

if the house is not keeping the heat in I would work on that before anything else.

And good advice on the oily rags- the drying agent chemicals in wood finish oils produce an exothermic reaction (they give off heat).  

I know that it adds an element of credibility and professionalism, not to mention, it doesn't hurt to have the knowledge and know that you have a much less possibility of breaking the law.

When you get there, if they know what they are doing, the owner should have a data sheet on monthly expenses (heat, electric, water, sewer).

Hey guys, I need help making a quick analysis on a multiplex 12 unit, each unit consist of entry foyer, family room, breakfast nook, patio access, kitchen, laundry closet with washer and dryer, refrigerator, two bedrooms, one full bath, 6 units have new Windows, all have new heating and cooling, Cost of ownership is $4,901/monthly •$3,884 principal•$600 taxes•417 other expenses Listing price $1,000,000/ negotiableIn Madison, Al in a C+ areaQuestion: how would I need to go about making an offer in order to get the best deal possible?

Since it's in Tulsa, Oklahoma I'm thinking about electric baseboards for heat.