Rental property location issue, homeless and tranetracks

[Samuel Persson]

There is a property near me that has been listed on the MLS for a bit. It's a small 1Bed 1Bath on a .25 lot. It's right in the middle of downtown and walking distance from everything. The issues my realtor mentioned are that it's backed against a railroad tracks and it's a homeless thoroughfare. The railroad only gets used once or twice a day during the week for hauling lumber. Do any of you have any experience with location like this?

Sam

[Nina Davenport]

What is your exit strategy for this property?  I certainly would not expect to flip it, given the neighborhood.  You could probably use it for a rental, but expect to receive lower end rents and have a high tenant turnover (i.e. intensive management).  Without knowing the exact location, those are my thoughts.  There may be redeeming characteristics that I am unaware of.