Briar Dale Court Rehab

[Alex White]

I am looking at a proposal to help finance the purchase of two buildings on Briar Dale Court, both with 12 units and priced at $600k each. Rehab projected at $600k each. A neighboring building (#8) houses sex offenders (6-8), does this devalue the deal? The rents would need to be $1,500 - $2,500 after investment to make sense. It's a kinda rough neighborhood in a great area - would my investment inspire other property owners to upgrade?  Because of new COH parking regs, I'll only get about 16 units.  Maybe I should consider a for-sale opportunity.