@Jason BabosIf you have the capital for the down payment, and reserves set aside for the unknown, and willing to put in the work, then I don't see why you can't.Are you prepared from a business perspective is the more important question.

Honestly one of the biggest issues I see us having is nearly half of what we do is undisclosed or unknown to general public.

@Nick WehrleyTalk to your cpa - it may matter if it’s a single member LLC or multi member etc as well as if you were taking depreciation on it and how have you treated it tax wise in the pastNot a cpa nor pretend to be one but a lot of unknowns that you should review with your accountant

And yet, you might be surprised how much foolishness you’ll uncover if you peel back some onions… one thing that I learnt from all these syndication mistake that is that before joining "such private club" is that "I thought I know most of the risk but I found out any investment project (even outside typical syndication) can fail to some unknown circumstances"......from plumbing to comps ............ there're just so many that i don't know. 

With any strategy you'll have your fears and unknowns how you overcome those with bring growth in the RE space. 

With the unknowns in the direction of interest rates and changes in landlord/tenant laws we are seeing cap rates fluctuate as of late. 

Sewers are always unknown till inspections.

I personally wouldn't recommend condos because you don't have a lot of control over the HOA, which is an unknown variable in terms of cost.

There could be a contested title (unknown heir, brother/sister disagree on selling the property, taxes due claims by state as a result of passing, IRS, so on,) at this point.It will likely take one of the heirs to get organized, start the process to become the personal representative/executor and petition the court.

There are many positives about Trenton, but as I always say to my rental landlords, everyone needs a place to live, so if you are willing to take the unknowns and nervous willies, then take a shot.