Does this sound like a good deal?

[David Lee]

I am looking at a property that has a little bit over an acre of land. It has 10 single family homes. They are asking around $200,000. 7 out of the 10 are rented out. They are renting on an average of $470 dollars a month each. A little over a year ago they were all rented out. The PM has done a poor job of taking care of these and getting rid of the renters that do not pay. They do not have any stove, refridgerator, washer, dryer, or A/C unit. I think that I would be able to do some cosmetic such as flooring, painting, appliances, and be able to raise the rents. Thoughts?