He also had the issue of taking great pride in his work, which is awesome, but not terribly congruent with a C class unit turn.  

I'm sure there are always needy/desperate people...There are always people in foreclosure, tax delinquency, inheriting houses they don't want/can't afford to keep, trying to get out of a terrible house/neighborhood...etc

Banks are not going to loan money to someone with terrible credit.

May was terrible here, but June, July, August have been awesome.  

It is terribly out of date.

Unfortunately we both live in such expensive, and possibly overheated, markets and are worried any purchase in either of these markets could be a terrible first investment!

Hint: the word "revolutionizing" should signal this strongly-Alignment is terrible-Quality is deterioratingIn any event the post above is pretty spot-on from what I can tell.  

Heuristics are great for quickly weeding out terrible investments, but they should only be the first step when considering the merits of any individual property.Imagine 2 identical homes built at the same time across town from each other.  

Im looking at a couple banks that seems willing, the interest rates aren't terrible and the timeline is only 8 months.

The deal is as follows: Eightplex in Hickory NCAsking price $210,000 (trying to get it down to 150-170k, but am using 210k for the numbers) Gross rents: $2,900/month or $34,800/year (Between $330-400 a door) Tenants pay all utilitiesI am requesting a 1040 schedule E and the T12's from the seller, but for now am forced to use the 50% rule. using that, operating expenses are $17,400 NOI: $17,400Cap: 8.28 Debt Service: $8,700Equity Dividend rate: 16.5% The area isn't great or terrible, probably a C or C+ area.