With no maney down it bleeds red.

When it comes to purchasing properties on the {bleeding} edge of gentrification or beyond, the only way to control who lives next door is to be the fellow doing the screening.Alternatively, you could sell your building and be rid of that part of town.

Now, if I got 5k out of the property and still managed to cash flow positively at all, that wouldn't be so bad, but with these numbers, I am bleeding over $150 a month, without taking out the extra 5k.

@Greg S.  Well

It's not working and both need to accept their share of the blame and identify what changes can be put into place to stem the bleeding.

The place BLEEDS cash.

My PM just called and said our tenants are complaining from swells from pipes.

Those zero-cash-flow properties that are/were purchased for appreciation will start to slowly (or quickly) bleed cash. 

So they have to decide .. history will prove though that most will just continue to bleed a slow death and just like when a stock tanks you sell and reposition..

If there's a leak the water will sit in there and get soaked up by your MDF lower cabinets and they'll swell up and become a nice breeding ground for an ecosystem of fungi2) The basic cabinets at Home Depot ate sturdier than those at Lowes.