I know this because we have replaced our kayaks 3 times over 5 years, not very fun.   

Real estate sounds like a fun and rewarding career if you are willing to put in some hard work.

I am willing to add value as needed but not willing put lipstick on a pig just for fun.

I can go on forever but I guess at the end im saying understand when buying a low end asset you have only 2 exit strategies and neither is fun at the end.

Not fun situation at all. 

I live in Boston and have a pretty decent salary that allows me to save around 40% of my income while still allowing me to live comfortably and have some fun as well :). 

You'll meet some fun and smart investors here in the area! 

Are you getting 1 year leases there from casino workers or other industry? 

Do you have the funds to take down the deal or this a just for fun activity that is for your personal edification with the hope that one day the money will be there? 

We have since managed to add two bedrooms and a bathroom to the previously unfinished attic, and the house is getting really comfortable/ becoming a lot of fun to work on and we have good tenants.