If you do go under contract, make sure you supply all the information you have gathered to interested people on your buyers list.

I was looking at lower end fourplex's  and Anna was very good at supplying me with ones that were just coming on the market.  

I found windows, light fixtures, and anything else I could scrounge in the "scratch and dent" section of a builders supply store.  

Maybe it is the supply part that dooms TX. 

Through self education was able to become both a licensed insurance agent as well as Supply Chain Account Manager, each for over year.

To make decisions, bring them supplies, fire and hire people, and look for the next job. 

I would also suggest finding local supply stores to find out where you can buy tile, kitchen cabinets, bathroom vanitys and sinks.

My concerns would include 1) crime, 2) proximity of other buildings you don't control, 3) (local) apartment supply analysis, 4) scope of capital requirements, 5) rehab grants/funding, if any, available 6) loss run report @Patrick Madigan I am in the Fuquay area for about a week and would take you up on visiting the property if this Friday or Monday next week....

Interesting, compared to this - "The National Association of Realtors estimates that the country’s supply of for-sale and rental units combined is 3 million units short of current demand."

Yes they are old and many need substantial work, but you have a major advantage over people living in more expensive areas of the country, not to mention a great supply of small multifamily homes.