Yes i am on 60th st , 2 blocks away from Berganline avenue.

This is a pain because you have to spend more time finding another tenant, but at least your costs are covered in the meantime.

Pittsburgh is weird with its neighborhoods though; our house was within a couple blocks of some very rough neighborhoods with some very cheap 8-10K properties for sale.

Indianapolis can vary block to block and even street to street.

I'm essentially giving up control about the timing of CapEx expenses to the HOA which can be a pain.

I also live in NYC so I feel your pain, maybe even a little more since I am currently living in Manhattan. 

Your best bet is to go there on an evening and see how the block looks then. in a way you are fortunate because these are the summer months and you can get a good feel of what goes on around that house. if you see a lot of hanging around on porches or a house with a lot of traffic (foot and car), proceed with caution.  

Unit rehab is also a LOT because you need to change the windows out to double or triple pain in many areas as the young people that do burn outs on their moped or dirt bike can be bothersome and turn non section 8 tenants away. 

I just dropped 15k on a bathroom remodel and replacing all weathered wood windows with new vinyl double pain windows on a duplex building.

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