Investing in Property w/ Great Numbers BUT NONPAYING TENANTS

[Daniel J Welsh]

Thoughts?

I have a local property 24 Unit Apartment for about 1.7 million. 

C class property in higher crime area. 

6,439 cash flow/month

268 cash flow per unit

14% cash on cash

9% cap rate

GRM 6.4

It’s 100% occupied, however the catch is 50% of the tenants are not paying at the current time. I’m gonna collect 2 years of rental payment history, hoping this is just covid, but would you ever go into a deal like this knowing you either need to evict people or help them get credit? The numbers just seem too good.  Would love guidance on this or if anyone wants to join the venture?!