Extremely high taxes and maintenance costs plagued by huge inventory sitting in the market. 

Frankly - this space has become extremely saturated over the last 10 years - so the odds that you find this one "diamond in the rough" deal is relatively low all things considered. 

This type of foundation is extremely porous and lets in a lot of water.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.PM us if you’d like to discuss this logical approach in greater detail!

The property is extremely mismanaged and the tenants are quite undesirable. 20 of the units are affordable housing tenants and 5 of them are on a master lease with this company who lets the homeless community use the units.

This is more extreme but would obviously stop him from having access to the tank.In trying to wrap my head around why he would do it I thought maybe its a sound thing?

I know some experts on here expect a correction at some point, but with rental rates being near all-time highs, I think this makes the midwest extremely viable right now.Also, if you want to thing long, long term, check out some articles about climate refugee cities in the midwest and how they think they will be major factors as climate change gets worse and people start to leave areas negatively affected by climate change for a more stable climate.Truth!!

There are lots of restrictions but these are extremely common out here.

But, the location of the property (neighborhood), and the level of rehab is extremely high that I feel not so confident in proceeding.

STR's within city limits are extremely rare due to zoning and density requirements, just outside city limits with the county is feasible but can take six months to process the license application.