Actually people who do don't invest there, they park their (substantial amount of) money.

However, it's important to note that this approach demands a more substantial time commitment.

my main concerns are (1) this property has substantial deferred maintenance that you're not aware of, and (2) vacancy and turnover will be high, and together those factors are going to consume all of the cash flow for several years but, it sounds like if that's the case, you're going to back out. 

Selling brings a substantial gain of around $200,000 after selling costs, freeing up cash flow and simplifying life without landlord responsibilities.

Specifically, a HH can substantially lower your living expenses, while increasing your income.

A “qualified rehabilitated building is any building:Before the beginning of rehabilitation was placed in service as a “building”That has been “substantially rehabilitated”That is a depreciable propertyClassified as a certified historic structureWhat expenditures are considered to be a “qualified rehabilitation expenditure”?

Before it was rented I added kitchen cabinets and a counter where there was none, remodeled the bathroom (not a complete makeover, but substantial), added a dishwasher and installed flooring.  

Hi all - wife works at Amazon and a substantial part of her income is guaranteed monthly bonuses and eventually RSUs.

We would net $94k which is about what we put in.If we rent then our property taxes go up substantially and our total monthly cost jumps from $2900 to $3300 (PITA).

@Charles AdamsDo you have substantial protection needs currently?