Buying small multifamily

[Horacio Gutierrez]

Hello,

When buying a small multifamily rental property what documents will the seller provide you before you buy the property to get a good idea if the property is worth buying or you wont get 6 months Bill's and tax returns after you have the property under contract?

[Henry Kaldenbaugh]

You will want to see the rent roll, expense report, IRS Schedule C, Tax history from the assessor, Insurance policy and invoice.  go to the Planning and zoning office to find history of infractions, any prior inspection reports, Utility history.  And all of this for three years.  Basically, you want all of the paper history on the property.