IF the current landlord hasn't raised the rents in 20 years, because they just wanted stability and zero turnover, there could be tons of upside once the rents are brought to current market, so what looks like a crap deal because it is only 3% current cap rate, may actually be able to achieve 6-8% cap rate in a fairly short time with aggressive management. 

Wait till you get that dreaded  call at night .. you head over there and see they crapped in it till it’s heaped  up over the seat just full of steaming stinking feces .But it’s still worth it even then .

Generally if the landscaping looks like crap, there's peeling paint and other signs of deferred maintenance on the outside of the house then you can bet the inside will be in similar condition.Definitely check for liens or have your title company do a title search. 

oh crap, now what?"

Jumping in without a partner or coach is a crap shoot in my opinion.Scott

Borrowing money is riskier than cash because if it all goes to crap, you still own the bank.

You can put her on the deed and not have to put her name on anything at the bank...My wife is the type of wife that if Im buying properties without here involvement she is gonna think I may leave her one day and she is left with nothing...Some women just have this security thing, Im sure if she was the bread winner and didnt want you on any of her stuff it would make you have second thoughts about your relationship as well.A couple years ago I opened a business and when I went to get incorporated I wanted all the shares in my name....OMG I still hear about that crap...I guess it just comes down to the type of relationship you and her have, she may not care if you put her on it or not.

Don't let the other side draft the PSA for you, because then you'll end up fighting over rights that are typically afforded buyers, like the inspection contingency, and the negotiation will drag on.When a client brings in a contract drafted by the other side, it often takes me more time and costs the client more to modify a crap bootleg contract (that often looks like it was thrown together in 5 minutes by the seller's 14-year-old son) than it would be simply to draft a clear and concise agreement from scratch.

My argument with my dad is that he doesn't need partners (especially with the <$30 crap.) 

I know what kind of crap you have to endure owning those properties and what kind of headaches they have.The low price pulls people in but many times it's not what they thought it was.