Auction Sites or Distressed Property Listings: Sites like Auction.com or Hubzu sometimes list properties that need work but are in decent locations and within budget.Given your experience with renovations and your budget, exploring these options might get you closer to what you're looking for without having to compromise on property age or potential renovation challenges.

Has a ten-year-old roof 3-tab, but the condition is more deteriorated compared to its relatively young age.

You just want an overview of the age of the units and upkeep.

Their concept is not new and has been around for ages with people renting rooms in college towns and more expensive markets (NYC, LA) however this is a centralized more hands off management approach to self managing by letting them do all the heavy lifting for you which allows you to scale in less time so yes the concept definitely works and even better with their technology behind it.

Quote from @Sahara Faughn: I am currently in Preforeclosure with a scheduled auction on August 20th, and I am under a special forebearance due to medical issues and having 2 small children under the age of 7.

Quote from @Milan Herskovich: I haven't seen the details, but it appears the new inspection process will be more stringent and more frequent. 

This aged well.

Find out the median income of the neighborhood not the cityThe age is why you need to offer what you're offering 

There are a lot of details that would be good to know such as size of multi, age, number of units, etc. 

Depending on the exact location, age, roof construction type, etc, there definitely could be a few things to watch out forAssuming the roof is of a reasonable age, it's still more than possible to cash flow with these properties, even after accounting for recent increases in insurance rates that we've seen.