Are the units vintage quality with in-place rents $500/mo below current market?  

Prices remain relatively low, but appreciation may be slower.Monroe: A mix of cash flow and appreciation potential, Monroe has become a popular choice for investors, especially in areas where new developments are popping up.Appreciation-Focused NeighborhoodsBallantyne: A well-established area with high demand, Ballantyne offers excellent long-term appreciation potential, though cash flow opportunities may be limited.South End: A booming urban hub with a vibrant retail and restaurant scene.

Internet capabilities are low, and no one wants to live there.

We’ve tried other platforms on the market, but the message delivery rates were very low compared to the 85%+ I get here.

Contractors, unless you have a working relationship with them, normally do not want you bouncing ideas off them.Understand what their hourly rate is, have a discussion with them that you are okay with paying them an hourly rate if they walk the property with you and provide you a scope of work along with an explanation of what you can/can't get away with in regards to improvements.ask them if you go with them, if they can credit you the amount that you paid.Once you develop a working relationship with a few contractors, you can bounce ideas off them and expect quality responses.I do not invest in New York.Best of luck. 

That seems low with the 5 units and storage you mentioned unless they are 1 bed units. 

@Joe Gellenbeck Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

If I was the buyer's broker, I would have checked myself to protect my client.If they had, then they would have found out it was not a three family.Its a valid point.In NM, our zoning / city doesn't post # of units publicly, only high density residential or low density. 

Low or No House IdentityPeople want to take pride in where they live.

The quality of your tenant is just as important as the investment you make.