Dream Come True or Potential Nightmare

[Emilio Ramirez]

Low Income Mixed race neighborhood - not a war zone. Lawns in the area are cut, but full of weeds. Walking distance to local shops and bus line.
Three unit property with almost no yard. A two family home on the front of the lot and a sfh on the back of the lot.
Asking 39,900 ( I'm thinking of a seriously low ball cash offer 15-25k)
All units three bedroom that rent at 600 each, but have seen properties in the area for 750.

Have not inspected other than a drive by. Seems to be in ok shape with some deferred maintanence. New roof pretty soon, peeling paint.

Turns out this is a short sale as the existing owner has given up on the property. The two family is vacant and I'm considering a walk through. The SFH is occupied by squatters who paid the current landlord first months rent and then stopped paying him and don't answer his calls or the door when he knocks. Apparently they are not letting anyone inspect the unit. Would be my inherited problem if I purchase the property. Other than reading up on eviction here on BP, what are your thoughts? Typical example of how you can turn a distressed property into a goldmine or run away fast?

Thanks - Emilio