older multi family house....

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Hi,  

This is actually a double question.  I often find some really nice MFH's but they are often older homes, some dating back to the early 1900's.  One in particular is really beautiful, inside and out. It is already rented out, and under a property manager.  So the questions are... is buying an older building a good investment, and is it a good idea to start with a property already managed and occupied?  I don't mind older homes, actually I prefer them because they have a certain character and charm that newer ones don't have.  If the infrastructure is good and it has recently been remodelled and bought up to code... I don't see any problems.