Hi everyone, so i was searching multi family homes and found this great deal that im interested in. Its a 8br 5b 4plex listed for $700000

Solid Brick Construction. Updated & Well Maintained State Inspected Legal 4FAMILY with Certificate on File located in North Arlington NJ. Property features four (4) Identical 2BR Apartments. Separate Utilities (Gas/Heat/Electric). Gross Annual Income = $74,000. Annual Expenses = $22,175 (Taxes: $16,050...Insurance: $3,000...Water: $1,100...Misc: $2,025). Net Annual Income = $51,825. CAP Rate = 7.4%. Great ROI. Positive Cash Flow. Onsite Parking. Conveniently located near Major Highways, Trains, Buses, Airports, Schools, Parks, Dining and Shopping. Apartment #262-2 requires a Complete Renovation and is being sold in "As Is" Condition...Buyer is responsible for CO, all Inspections and any Required Approvals as it pertains to Apartment #262-2.

Im new to all of this but im motivated to learn about real estate and accept any kind of advice.