I haven't focused much on investment property in the past, and I am seeking opportunity to drastically change paths into this arena now.With that said, I was negotiating a deal with a seller recently, and then halfway through the negotiations he said a hard money deal wouldn't work out.

The numbers work out to a nearly 12% cap rate.

Personally, I would keep anyone on month to month leases so it's easier to end things if they don't work out.

If it doesnt work out ill rent the units. 

I tried to cash out refi this year but the appraisal didn't work out. 

If it's a dump, but it's a dump they like, there's probably no harm in it and may even work out for you.

You need to work out the operating expenses (OPEX) per unit in your market. 

I used to manage the office for a tree care company and we fell under that same umbrella.I would also talk to the tenants and find out what their typical schedule is and, to an extent, work out a reasonable schedule. 

I have been scouring the internet, evaluating properties, and giving the "Rental Property" evaluation tool on this website a workout. 

These are not the guys I hand off to acquaintances who ask for recos, because while I can get good work out of them, I'm not sure if other employers would be so hands on -- and a hands off employer might not get the same good results.I guess saving money by acting as my own GC means doing some of the things a GC does.