Concerned about investing in an old multifamily apartment complex

[Stephen Jones]

How does everyone feel about investing in an extremely old property? I am currently looking at investing in a 30 unit multifamily property. It consists of 2 buildings that were built back in the 1950's. All my properties now are fairly new (90's and above). I have been through this property and the building seems very structurally sound. The inside of the of these buildings are actually nice and well taken care of. My concerns come from after buying the place, am I going to get hit all the time with problems with it being so old? It is in a great location and the cash flow on it is extremely hard to pass up, therefore I am going back and forth. Has anyone recently bought an older building of this size and had success? Thanks!