Should I pull the trigger on this deal?
Landlord wants to sell 4 properties. 3 are Duplex, the other single family. She owns them free and clear. They are all OCCUPIED with section 8 tenants. Rent per unit is currently 900.
Her asking price is 60k per duplex and 45k for the single family. I have not made a counter offer. All properties are within .5 mile from each other. None of the properties need major repairs.
They properties are in low income neighborhoods so the ARV on each property is 60k.
I guess my questions are: Is it necessary to make repairs with long terms tenants already residing there?
What number would I have do I have to be at to make this a deal if it isn’t?
If additional info is needed please ask.