Can u ask to see the rental agreement and if the tenant pays on time...If not, fixed contract period...you have no rental income but have mortgage payment. Takes 3-4 months to kick the tenant out by legal proceedings.
8 years, will not be too run down. no need to change wires or pipe. Need a paint job definitely,剷底批灰. Kitchen cabinets may need to be replaced. So cut the price by deducting this when u 還價.
Also, rental units need to pay higher interest to the back, mortgage amount is less than ussual. The tenant may not be good...take this all into account. Buy if it is a bargain, leave it if it is close to market price.