Some are just too wrecked and remain that way, but those are much cheaper typically.Just an update.

The cost of capital can really wreck you.

Fleas, window screens trashed by cats, blinds trashed by dogs and cats, door frames chewed by dogs, carpet and lower walls saturated/sprayed by urine, carpet shredded by cat, wood window sills scratched by cats, edge of butcher block counters scratched by a large dog's paws as he liked to check out the food on the counter, oh, and the worse--cat up the chimney, damper wrecked!

I didn't pay attention to that as much when I was getting started and have dealt with more than one train wreck! 

The tenant relationship is even more critical with low income, otherwise you'll get the terrible tenants who will wreck your cash flow.

TPI helped us dodge a bullet on at least 2 properties that LOOKED great, but were wrecks underneath the surface.

WRECK EM.

I then needed to sell two of our old triplexes, pay taxes, and pay off our house line of credit.I switched my employment between dealerships in my town in this ship wrecked economy which began in 2008 and cut my paycheck in half in car sales.

From what you say he wrecked his credit then used yours to buy more vehicles.

Do not purchase "train wrecks" - homes that have structural deficiencies that will cause probems with inspectors, appraisers, and banks when the market returns.