What are things that you look for when attending an open house/showing of a multifamily property?
What are some go to questions you ask while talking to the seller and your agent?
Look for repairs focus on things that you can't ask at a later time. You can't see a hole in the wall from your phone but you can ask what the rents are or who has a security deposit
I look to see which units are kept nicely by the tenant. These are the inherited tenants you want to keep. I also look for ways to bring in more income (such as coin-op washers/dryers), storage, etc.
If any units aren't being shown I ask why. I also ask about the utilities and which are on separate meters. If current rent amounts aren't provided, I ask for them. I also ask when each lease is up and how long each tenant has lived there.
Finally, I ask why the seller wants to sell. That will tell you a lot and if a property can be had for less.