Bad Condo Complex

[Pawel Ptaszek]

Hey everyone, I am looking at buying a property and just wanted some input for everyone. There is a condo i am interested in purchasing to repair and rent. The only problem i have is the rest of the condo is in terrible condition and the price has pretty much dropped over 200k since 07. I have thought about purchasing more of the units and "cleaning" up a bit but am unsure about the occupied units. Has anyone had experience with a property like this? Should i just pass up on it or go for it. The price that its selling at would allow me to rent it at a low price and still have a great cash flow from it. The property is in a distressed neighborhood.