Buying a fixer upper in Brooklyn, NY as a rental property?

[Christian Podedworny]

I have been looking for the next property to buy for a long term investment. Being that I live in Queens and work in Brooklyn it would be much easier to overlook the rehab and manage the property. There are two concerns I have regarding buying a two family home in Brooklyn,

1. Prices are high

2. The neighborhoods with lower priced homes,(under 250,000) are not in desirable locations.

Has anyone purchased any multifamily homes in Brooklyn for a reasonable price and is the investment worth the price you paid?