I think that's true of investment properties too.. the worse the area (which of course comes with riskier tenants, more maintenance, and vacancies) the better the numbers look in theory in terms of "cash flow"...

The management company emailed me the following on July 17 " Im working with the board in terms of fumigation, we plan on painting so this needs to be completed before then.

Better yet, if all the units look exactly the same in terms of layout and furnishings, you won’t even have to change the pictures or listing copy.

Also in terms of identifying good areas, I'd speak with several realtors and property management companies to hear their opinions on what sells.

Is this structure standard, though, in terms of capping investor returns at 12%?  

This property has been a cashflow play, but ideally my next small multi-family (2-4 units) would be similar to what you are looking for in terms of a higher-priced appreciation play. 

In terms of is it a good deal that is completely subjective.

If you can live for free and only pay utilities AND buy an investment property, that would be ideal in terms of savings and cash flow.If you can't stay and your parents want to make some money on that property, then yes, house hacking would be your best option especially since you don't want the best place in the multi.

Hi Tom, I would reconsider taking out a full two hundred thousand dollars for a HELOC unless the numbers make sense in terms of possibly making that money back and paying off the loan. 

Conventional renting out never makes sense here in terms of cash flow.