6 plex no rent logs

[Austin Goebel]

Hello everyone, I am looking into buying a 6 plex and have a question based on reading other threads on this forum. From what I have read a commercial lender is going to want rent logs to analyze this deal. The seller has completely neglected this property, needs work, has no leases (makes them month to month tenants in my state) and has no rent logs. Any idea how I can proceed with these issues. I have plenty of cash, a very high income, and great credit for what it’s worth. 

[Bill B.]

Ask for the last 2 years of bank statements. That will tell you how much rent is actually being paid and what utilities the owner is paying for.