If the current owner doesn't know how to get in or get rid of the tenant then there may be a bunch of other hidden problems caused by their lack of knowledge.

Downtown has some fantastic gems in the historic district, and people are investing in serious rehab for serious profits. 

Even seasoned pros know surprises can be hidden in the walls and attics.

For one, anyone advertising an above market cap rate probably means there are hidden problems in the property, the area is bad, or the numbers are disingenuous. 

You need to know what the hidden costs are.

Beneath all that hidden charm there can be some hidden nightmares but as always there is money to be made.As far your comment on there not being modern units, I'm not sure where you heard that information.

-Not taking proper care of properties, neglecting maintenance, ect-Trying to overcharge investors buy tacking on hidden charges such as a fee on top of maintenance bills.

As far as the profit, well that didn't pan out to my calculation since there is always hidden costs and the contractor came out to high at the end.

As far as the profit, well that didn't pan out to my calculation since there is always hidden costs and the contractor came out to high at the end.

Current tenant is a gem of a person, but in general, yes, I agree it isn't ideal.