Would you buy a tri-plex from a slumlord

[Maurice W. Evans]

slumlord is a pretty harsh term, however, let's say

-Its a rough neighborhood (some spray paint and busted windows on various bldgs)

-A bunch of 2-4plexes on the block

-the living conditions of current tenants is bad (partial electricity, no hot water, holes in windows and walls, rats)

-some visible mold on a couple walls

-doesn't seem to have had any management/maintenance at all

Owner hasn't been able to sell for a few years.   recently dropped from 75k to down 60k  (a year ago a similar triplex nearby sold for 75k)

The owner is out of state and will carry a note - willing to take 10k down and carry 30 years @5% with 5 year balloon through his realtor.

has 2  2/1 on each end that will rent out for about 450 and in the middle a 1/1 to rent about 350

Personally, I can't imagine allowing people to live in such conditions, and would have to fix it up as best as possible - keeping in mind the neighboring houses are in disrepair as well

sounds like a great deal but also a potential nightmare

:/