Just my two cents but for your first deal out of state, I wouldn't settle for cash flow neutral. 

How many neutral letters are you sending?

A clean, neutral-looking curb gives prospective homebuyers a chance to visualize their own additions/upgrades.

Just make sure the other two assets can still cash flow with the debt you put on them.I have an 10 unit commercial property that is basically cash flow neutral because of large Capex expenses that come up every year.

Appreciate the response Victor and Don and your neutral perspective. 

Interior PaintingScope of Work:Paint all walls, ceilings, and trim with neutral high-end paintUse two-tone color scheme for added eleganceEstimated Cost: $10,0005.

That is lower than market and puts you in a cashflow-neutral situation, but it is unlikely your residents can afford that.

Appraisal fees should go to the appraiser, not to the lender.Legitimate real estate lenders always use neutral title, escrow, and closing attorneys, as appropriate for your region.

Something light and neutral. 

That sounds like a lot of work and I'm sure he would prefer to avoid that work and just sell it for $1.9m or $2.0m.if I were to buy it from him, to get to cash flow neutral I would need to increase rent on all 6 units to market rates and my monthly payment would need to be close to $6.2k/month, which would be $100k down payment, $1.7m loan with seller financing at 2% interest rate and flexible ballon payment.What would you do if you were me?