Would you "do" this pig? Rehab a C-

[Will G.]

hey pocketeers,

With the lack of available properties i am considering a real pig (list agent calls it a c minus)...12 1bed 1 bath(560sf)units, two levels, built in 1965 (yaa, cast iron and galvanized) and not touched since then. Just a rectangular box with gravel parking in a slightly rural setting(one acre property) On septic, that needs absolutly everything rehabbed.not horrible tenants or high crime area, just the cheapest thing in town currently. i am thinking about $ 13k per to get this thing right. Only good part is current rents are about half what they could be when rehabbed and if i got it for $300k plus the $150 or so to fix, i might be looking at $100k equity bump, but then again, it will still be just a plain,old, box in an ok location. 

I guess what iam asking is.. do you look for massive headaches like this pig in your market? Is this older than you would consider, especially since i would like to keep for a long time?

It has been on the market several months,so it obviously would not be first choice for anyone around here.