Considering you haven't seen the inside or talked with tenant, I'd put a healthy option period on it.

On June 18th my beautiful, healthy, vibrant daughter was born.

"Cleveland’s housing market has been called a lot of things the past few years, but the debut of a housing index by the Columbus-based Nationwide insurance and financial services firm terms it something different — healthy."

I'd end up with a property that barely breaks even vs a property w gobs of equity and a healthy cash flow.

My goal was to quit once my RE income matched the income from my job with a healthy percentage in reserve. 

You are really looking for healthy apartment rents and healthy SFH prices.  

I'm always open for a healthy debate!

Central location - relatively motivated sellers - mostly fed subsidized (mental health) - is it worth renovating and raising rents      - is it possible - small Apts (mostly 1 br) - option to hold and cash flow then repurpose as city changes zoning / vision How do you finance a large commercial purchase like this - % down / LTV - amortization / ARM - cash flow requirements - inspection requirements - special clauses for maintenance refinance options later Asset or personal info more important Code requirements for commercial loan Deferred maintenance list -What are main issues with 50 year old apartment building ?

And I try to focus on how blessed we are to have such a beautiful, healthy child when frustration mounts! 

In less you are very in tune with the local market and data it is hard to see how healthy our market is.