A unique situation. How would you go about it?

[Chris Skutnik]

Walking home from work today from the train station listening to a BP Podcast. I see a guy putting up for rent signs on an apartment. I walk past initially but turn around and introduce myself. Long story short, he is the owner of this 4 bed 1 bath in Bed-Stuy Brooklyn and is trying to fill a vacancy. I would classify it as a C property. He wants $2600/month in rent. Initially I thought it was the perfect house hack, given I currently pay $2300/month for a 1bed/1bath a few blocks away albeit in a brand new building. However my girlfriend is not keen on sharing a bathroom with a bunch of other strangers. She then asked me, why don’t we rent all 4 units out?! So I pose the question, is it smart to sign the lease for $2600, fill the units with tenants myself and charge more than $650/month or do I not bother? Has anyone ever done this? The owner also said he would paint the walls, put new bedroom doors in and give me until August if I am serious. He is keen on having someone who will pay the rent on time. This would give me time to get tenants lined up, leases written, etc. my question is, is it worth the hassle?