Need some advice on a possible 4plex
I have been presented a four plex on the market listed for 70k. The problem is that it was ruined with flood damage. According to the realtor the damaged areas were removed, dried out, and mold inhibitor was sprayed throughout.
All four units are 2BR/2BA and prior to the damage rented for $600
The NOI was approx. 20k
I am not familiar with flood damage and unsure if it would be worth the hassle or how much extra I would have to spend apart from the renovations.
Any help or advice would be greatly appreciated!