buying multiple properties as a package - what is my tax basis?

[Bruce Clark]

I am currently under contract to purchase 4 properties - 6 units total - from the same seller. We have agreed on a total price of $110,000. There is no terms or agreement with regard to the actual purchase price of each individual property.

For future tax purposes, how do I determine my basis for each individual property? Is there anything that I need to do at this point prior to closing?