In a townhouse, your legal description will include "Lot and Block", meaning you own the land the structure is on, and you own the structure.

If they are a big complex they have been around the block and will know how to win.

This condo is located 3 blocks from Loyola University in Chicago and it is a lakefront property. 

At the same time I think a good commercial broker who specializes in multi could probably give you all the answers as well in hopes of gaining your business.unless I guess your looking to be one of the new syndicators on the block instead of buying a 60 or 100 unit your self. 

I was talking to a broker yesterday who said they got great success mailing the three blocks around wherever they had sold a house and were asking if those properties had thought of selling too. 

Had it under property management the entire time (with Block Associates), only 1 super bad delinquent on rent tenant, otherwise was fairly well occupied over the years.  

That said, you can expect this property to have problems like: no functioning HVAC, electrical problems, old water heaters, low rent, old appliances, worn carpet/torn linoleum, leaks, etc.Sometimes the rents are not able to be raised for that block, or you may not be able to justify raising them enough for a good return after repairs.  

Stockton is block by block and you're best bet is to drive those blocks. 

If @Shirley Rozenshteyn is right about Glastonbury, maybe buy the worst house on the best block, and by the time you leave the built up equity will help you succeed in you RE goals, instead of renting.

______________________My post _____________________________________________I own a 3/1 ranch house 1 block from Rowan University (Glassboro) It is a completely different market than Northern NJ (where I live).