At the very least, the three documents you need to evaluate a multifamily deal are (1) the trailing 12-months of financials – 24-months is ideal – that is often referred to as the property and loss (P/L) statement, (2) the rent roll, which will show you the current rents, and (3) if it is an on-market deal, the offering memorandum, which is the package that the broker puts together containing all the deal information.