This may be a great deal! Quadplex for $50,000

[Steve S.]

The neighborhood is probably a C+ neighborhood.  I estimate it may need about $50,000 in repairs.  That may be generous.

It's a Section 8 prospect, but I have high confidence I could rent each of the 4 units for $650 each for $2,500 / month.

Risks are that the tenants may have high turnover or more likely will be more apt to cause damage to the property. 

I've never done Section 8, but this property doesn't HAVE TO be Section 8, it's just an option I'm looking at.  

Thoughts?