They are more useful IMO for getting chunks of equity right off the bat thru value add and then either realizing that equity by flipping it and using for a down payment on something bigger or hold a couple years and then sell at that point to do that then. 

Or just looking to offset the loss?

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

Ive been watching bigger pockets for about a year now.

We also tell them that we charge $25 per hole for TV mounts, shelves etc I think that $10 up-front investment has reduced the number of issues by probably 80%.Our walls are textured (sand textured in Milwaukee, orange peel textured in the western suburbs - yes, there is an actual dividing line), so we try to avoid the usual palm-sized patch and fill only the hole without making it bigger, so we can get away without texturing.

I don't mean to be negative and obviously, you are going to do what you want to do, but to put it in perspective, I bought one of my 1st properties in 1990 (at a peak), and sold at a significant loss in 1997, due to specific circumstances.

Hi Kyle,Welcome to Bigger Pockets!

One thing to remember when you are getting into RE investing is to have your team of people or as Brandon Turner from the Bigger Pockets Podcast calls it your CORE 41.

I'd also like to plug Bigger Pockets because of what you said, but also because of the education you can get here on the website.  

I came across Bigger Pockets and am thankful for all of you and the podcasts.