Looking for pros/cons of buying two properties next to each other

[Ron S.]

Hello fellow investors!

I recently purchased a property in Pittsburgh and the property next door was also for sale.  I decided at the time that I wouldn't pursue it as I convinced myself it was risky in case the neighborhood turns for the worse.

Well, the property I purchased ended up renting very quickly and for $200 above the projected rent and the property next door just dropped in price, so it's looking attractive again.

I'm hoping BP can convince me one way or the other.  Let me know of any pros and cons you can think of for owning two properties next to each other.  Note: I'm out of state and use a property management company.

Thanks!

Ron