If he's getting 10-12% return, why not borrow at 8% and play the spread?

It will be intense and grueling hours (to be successful) but don't let it deter you. 

Looking at my first property and there is a severely intense odor in the basement (concrete) and some slight orders on the other levels of the house as well (hardwood floors and carpet).

Income over many years-weather plays a big part is the success of a wash, you want to see REAL numbers for st least 3, more like 5 or 7 years to get a better picture.Sellers mindset-is he really selling 2 of 3.

Most important is getting a RE knowledgeable CPA who knows to outsource the calculation-intensive work involved in a quality engineering-based cost segregation study.  

Landlords who pay attention, are ready to wait, play by the rules of the local laws, and have enough volume or cushion to ride out the outlier experiences, have seen, and I believe will continue to see, the benefits of lack of competition accrue to them to the tune of millions of dollars. 

The larger retail centers are more management intensive.

Is that the play?

Quote from @Ethen Sanchez: Quote from @Alex Olson: @Ethen Sanchez While I don't know STL as well as KC, yes crime rates play a factor.

Like pert near anyone in our bizz you do have bummers each year myself I wholesale them off when i do have to take one over.. or i might sell them on my 0 interest short term owner finance program .. which creates some rock solid paper given the assets usually need a lot of attention at that point.. for the speculation I had 2 long term land plays one paid off after 22 years of owning it for a 100X multiple  yes 100X  :)  And the one i currently have that the new CHIPS act could create a huge win for myself and partners..