@Luke RespondekThere are a lot of questions you need to answer before deciding whether this is a good deal or not:"The house is on one of the worst Streets in the town" generally, I would never buy a property in the worst part of town (meaning C/D areas).

Anyway, good luck and definitely look for a water adjustment on the next HUD/CD.

If you are ready to jump and can only afford a C/D area, then your best bet is to find a solid property manager that works the neighborhood and can take the burden off you.

Maybe put some cash into low risk investments after the Fed finishes raising rates like a 3% CD. 

Between the two major players of trade shows this is my preference. 

If you hang out in the forums long enough you'll start to know who the bigger players in the space are.

Arbor, Greystone, and ReadyCap are the other big players in that space.

Then I use the proceeds as 5 separate down payments of $200K for properties B,C,D,E, and F respectively. 

The market can remain irrational longer than you can remain solvent." this was a very very real scenario that caught many a developer in a pickle or syndicator or what have you.Ken Harter in Oregon was the largest player in the senior housing space he needed to refi in 09 about 1b or more in loans that had the 5 year calls... 

Turn over costs on average are higher but returns on C/D properties are better on average.