Building was condemned and had roof leaks, pulled water/electric/gas meters.

The water heater goes out and costs $800 to replace (eight months of income) or a bad tenant causes $2,000 in damages and forces a month of vacancy.

@ me I'd be your first poster talking to you at the proverbial water fountain during our lunch break!

This includes the fact that I currently pay for trash and water, but eventually want to have the tenants cover water expenses. 

So, I think i recognize your logo as being the wholesalers that flooded my mailbox with like 20 flashy postcards all at once, so I am assuming this is a wholesale assignable contract deal?

You should always check out the major systems in the property i.e. the roof, the A/C, the water heater, the foundation, etc..

I need to replace 2/3 of the current water heaters.

Even accounting for electric, water, and sewer hookups needing to be set up, it seems plausible that buying one of these as a rental could offer a better ROI than constructing a freestanding ADU building.

For instance, if you have 50 residential units, with 50 roofs, 150 toilets, 50 hot water tanks, etc. you have a huge liability at any given moment where nearly all of the repair and maintenance expense is on you.

Expect to at least pay for water/sewer.Where is your tax number from?