All the bylaws, building codes and fire codes can be found on the city website.

I would love to JV with someone that has experience in this arena so I can learn the niche or a consultation/mentor fee, whatever is acceptable.

For a rental in many markets this would be acceptable.

Websites like Rentometer can give you a quick snapshot of rental comps in your area.Multi-Unit Strategy: If you can swing it, aim for a 3-4 unit property instead of just a duplex.

Our property management company wants to sell 3 apartment blocks for us approximate value 2m maybe slightly more, can we ask them to accept 4% sales commission?

@Rajagopalarao Paidi Do a flat fee MLS listing ($100-$200) so you get the listing on the MLS and all major websites.

If a seller listed a home for $100,000 but was willng to sell for $94,000 as that was likely the FMV, it would be the same to him if he accepted $100,000 with a 6% seller credit or $94,000.I looked at the zip codes of lower priced homes in Memphis, Cleveland and Indianapolis and they appeared to perform betterMemphis38105 - Prices were $35,700 in 2016 and now $116,000(220%)38106 - Prices were $21,600 in 2016 and now $60,900(180%)Cleveland44108 - Prices were $34,000 in 2016 and now $59,800(74%)44104 - Prices were $36,300 in 2016 and now $60,400(66%)Indianapolis46201 - Prices were $42,900 in 2016 and now $149,000(247%)46222 - Prices were $39,000 in 2016 and now $127,000(225%)I should mention that I don't invest in Memphis, Cleveland or Indianapolis.

That being said there are those that are willing to accept buying in an appreciating area where the rent only covers the mortgage (PITI).

But you can look up vacancy rates on websites like rentcafe or rentometer.  

Unless you're financially prepared to deal with these issues and accept that 'once you know, you must always disclose' defects, I would move on to finding what is truly a good deal - as a good deal is only as good as its bones.