Miami multi-family in bad part of town

[Raquel Singer]

I'm considering buying a multi-family property (10 units) in a bad part of Miami (very low income, high crime).  My realtor spoke to the rep for the seller and mentioned that some of the units are occupied by squatters but that he will get rid of squatters before closing. The current owner wants twice as much as he paid about a year ago and it does not seem like he invested any money for improvements, etc.  I was thinking of buying it and making some improvements to attract more stable tenants. Am I looking for trouble in considering a run-down property in a bad part of town?