Landlording in "rough' areas of a city

[Jon Carcone]

Hi All,

I am looking at some rental properties in Baltimore. Specifically, there is a 3 unit with a potential for a 4th currently fully rented at $2100/mo and asking 140k for it.

What is attractive is that for another 10-15k you can add another unit in the basement and parking to get another 700/mo for a total of 2800/mo for a total price of 140-150.

The reason this deal exists is because it's a pretty rough area of baltimore. Some boarded up homes on the block-- stuff like that. I would hire a property management company to manage the property.

Has anyone had experience landlording (either personally or through a property management company) in rough areas of a city?

Thanks, Jon