Dumpy and unsafe are two very different things.In the hamburger example, I am not talking about edible but undesirable food.

.$14,400 is $14,400 in ANNNUAL GROSS INCOME The Gross Multiplier for the average multi-unit (4+ units) property is about 18 in todays hot market even for undesirable properties.How much money do you make the same day you raise the rents?

here are the factors that can kill many deals when the prices are lowVacancies and overall undesirable areaRehabs needed and condition - could cost a ton (structural , roof , overall guts of house needing repair, etc)Taxes,  Property taxes can be brutal and eat up so much cash flowWater bills and utilitiesInsurances that are required etc. 

@Meredith Mihmi have a peripheral question for you that i'm curious onyou mentioned 30-40K of rehab. 

The risk you run by dropping rates beyond not getting much money relative to the wear and tear that you run a higher risk of getting undesirable guests who will not respect your property and could do damage.

I know it is an extreme example, but the point is that even for the most undesirable properties, they are always a deal at the right price. 

Working a full-time 9am-6pm job it made my days long and undesirable to get off work then go clean my property for 1.5 hours.

Unfortunately there seems to be an abundance of used appliances in geographically undesirable areas.

Given that we are carving out a new class of shares for this activity it is undesirable to do anything that would drive changes to our fund docs.

This seems like an extremely undesirable investment to me - if I want a SFH, I'll buy one, and if I want the returns of a syndication, I'll invest in one.