As for whether or not it makes sense for your rental, I would argue that if you are in anything higher than a B- neighborhood, you should be able to get your money out of it between added value in a refi, decreased vacancy, and higher rent.

My reluctance is that it is in an A -A+ neighborhood and everyone I've listened to has said that it is best to buy in a B-C+/blue collar neighborhood so that your chances of keeping a longer term tenant and avoiding annual vacancies will be low. 

The A/B areas in KC used to be rough but Downtown and the Plaza has caused growth. 

So unless you're fixing something that must be fixed (i.e. roof) regardless, do a cost to rent increase analysis.What I've found is often you cannot justify the cost of upgrades, unless you're prepared to kick out ALL the tenants and reposition the property to a whole different class (i.e. take it from a "C" to a "B"). 

We are market makers, we were able to reposition this building into a B product, with a massive CAPEX for renovating units and interiors, as well as infusing a boatload of amenities for residents.

Appreciation likely.East Hartford Mostly a B/C class community.

So, if the house is in great shape, is in a "B" or better neighborhood, you have great PM, and the numbers work so you cash flow okay after reserves for vacancy and maintenance , then I would buy it.

Appreciation likely.East Hartford Mostly a B/C class community.

your best bet in entrepreneurship is toA) build an A teamB) pursue an A/B ideaC) raise moneyso start networking and keep an eye outfor a business partner with income/credit :)

Do you want A,B,C or D class neighborhoods?