Advice needed for duplex purchase

[Thomas Lowe]

I’m located in the Midwest. Looking at a duplex in a C/D class neighborhood. House is pretty beat up. Built in 1895. It is currently rented with both sides occupied. Total rent 1900 a month. Asking price $99,500. Obviously, cash flow is very good. I will be using property management. This will be my first property.

I was considering making an offer contingent upon inspection as well as verified rent roll.

A few of my concerns are:

Will this be a major headache and not worth it?

Also, I am a physician and a little worried about personal liability.

Thanks for your input!

[Marc Rice]

There's a lot of other factors and variables unknown here. It sounds like you want something turnkey with little to no headaches. Potentials risks can be buying a property with existing tenants who don't pay and you can't get them out and when you finally do you'll need to do a turnover of the unit which could be a few $k. It may be best for you to get a fixed up duplex with no tenants in either side so your property manager can go in and stabilize (light maintenance, rent to good tenants) the property with tenants you've screened.