First time home buyer slum lord

[Tom Grieshammer]

I'm 26 and living with my parents so I've saved 120,000 and am trying to become financially independent. I found a 325,000 quad that's fully occupied grossing "over 5,000 per month" in the Mt.Pleasant Neighborhood of Cleveland Ohio. Seems to be in good condition from the pictures and I have enough that I could pay for some CapEx if it needs some. But that neighborhood is not good and my parents are telling me I'm crazy for thinking about risking all my money in a dangerous part of town. My thinking is that with a price to rent ratio like that I could hire a property manager so I don't have to frequent the area and am a couple house hacks away from being able to cut back to part time. Am I looking at this with rose colored glasses?

[Sofia Komrskova]

The issue isn't the neighborhood necessarily, it's just you are buying turnkey in a D area. There are better uses of 120k.