I have one rental in Louisiana and when we got flooded... the rental lease is not in effect anymore as the house is not live able.... it's a pain if u don't have insurance.... if ur renters are good for it.... at least ask them to take out their stuff in the curb... a lot of renters just here just left.... and landlords has to do all the hauling away of their thrash too...On the gentle note.... pls be cautious when talking with renters... pls be kind and understandable that they too lost a lot of their possessions aside from the fact that they might not have a house to rent as housing demand will be very high....

Partners are a pain in the posterior.

Plus, when you start to get 10 blocks away or so, you start to wonder if neighborhood conditions affect the prices (good or bad). 

But there are high end apartment complexes within a few blocks in 2 directions, which have higher rents than this property.

I spent a year in Boston, Somerville actually, within a block of the red line.

I know it sounds great on paper.. and it may work and if this is only 5% of your available cash you can take the risk.. but if this is the majority of your investing cash I say risk is simply too great ... .listen to @Curt Davis sage advice he has been around the block for many years and is not trying to sell U something like all the rest of the folks posting on this thread.

Keep up on the rent coming in and follow-up with the PM on slow payments and follow-ups.I feel your pain.  

Although there you will need good property managers and need to know the area as South side is block by block.

Our realtor used comps from a historic district a few blocks over for our purchase which over estimated the ARV by 100k.  

It is located less than one block from an elementary school.