Brick duplex on a crawl space (never seen one before. seen either vinyl or wood) 2 section 8 tenants (7 yrs, 5 yrs) asking price $75k (assessed value at $29k) current rent - $1,400/month = gross - $16,800 insurance (guess) - $100/month (could be more) = $1,200 taxes - current year - $2,500 (most have been $4k) will have to use PM since it's 30 mins away - $150 per month Repairs - $100 month (average) no immediate repairs, they seem to be happy living in clutter and nicotine discolored walls according to @Joel Owens formula:gross rent - $16,800NOI = 16,800*.4 = $6,720CAP = $6820/75k (asking) = 8.96it's a C area, but not warzone. that whole town is that way. it reminds me of flint (great at one time), but without the crime.Basic formula:15 yr ammortization, 5.25% apr = ~$466,expense of P&I + PM+repairs+insurance+taxes (current) = 466+150+100+100+208 = $1,024Rent = $1400Profit = $376 = $188 per door

Fortunately it’s not permeated throughout all of Memphis, it’s really in certain areas.

The walls were nicotine-stained and the owner had made his 3-bedroom home into a 2-bedroom.

I'm wondering if anyone has any suggestions on reducing the smell that would permeate through the property.

Smoke permeates and damages ceilings, carpets, walls, and floor coverings.

You get into problems with freedom when your freedom intersects with mine - like when all the smokers got kicked outside to smoke when the product of their addiction to nicotine - smoke - was proven to cause  health issues for those around them who don't have that particular addiction.  

Use Kilz or another blocker, preferably oil-based, on the walls and ceilings, possibly the floor and subfloor; you may also need to do this inside and outside cabinets (personally, I'd take a couple down from the walls to check behind, where nicotine tar can hide).

My neighbors are growing and smoking weed that is permeating my apartment , giving me headaches and making my clothes reek.

Another benefit we've seen is last repeat infections in our family of five with a second unit in the kids room.I would talk to a proper paint store about nicotine sealing paint, repaint, and throw a germ guardian in there for remnant smell from non-paintables.

The windows were replaced as the nicotine was so thick it stained the vinyl.