Is it worth pursuing this....

[Ashton Patel]

Hello, I'm a newbie to this REI. I found an apartments for sale for $285k for 32 units. It's very cheap, but the rent is not much. Expecting 12k per month according to the agent. This is a rehab project. Any idea how much it would cost to complete this project? Currently only 25% occupied. Please let me know what you all think. Thank you. Have a great day.

[Cassi Justiz]

Just from the very limited information here, that sounds like a money pit and a half. Do your due diligence. 

Question why it's only at 25% occupancy. Even if it's outdated, that's some kind of red flag. (Bad area, bad management, probably a combo). Also question why they are selling it that cheap. The multifamily market is booming right now, so if it spends more than one day on the market at that price there is a reason. 

There is only so much value-add you can do to an apartment in an area where no one wants to live. Find out the average rent/occupancy for other apartments in the area. Make sure you can get the value back.