In some areas the unsightly property could be a real problem.

Also I think your holding costs might be higher and construction cost might need more but that depends on condition,comps, and property characteristics.

Plus, I can buy them for much less cash down because there are fewer serious buyers for unsightly distress-type properties.

Plus, I can buy them for much less cash down because there are fewer serious buyers for unsightly distress-type properties.

Here is the information:Asking Price: $6,250,000.I prepared a summary of the main characteristic of site for your convenience.

You will need to find an apartment property with the following characteristics: 90% occupied for past 90 days and limited deferred maintenance (less than $5,000/unit).  

I'm new to real estate investing and I'm very interested in buy & holds and fix & flips. Like the majority of us on here, my overall goal  is to gain financial independence through owning  multi-family rental ...

I'm a multi family buyer and this would be my first property investment.Looking for additional lenders in southeast Michigan/metro Detroit who offer a loan with the above characteristics, but reasonable closing costs.

It is an unsightly alteration and no doubt reeks of cigarette smoke.

Just my personal preference, but I believe that properties that have all those characteristics will be easier to rent out.Brian