If you want to get rid of all the non-bearing interior walls and turn it into a giant studio ... have at it.I assume from your tone you want to argue that it's a 3 bed for underwriting purposes.  

Here's the numbers:Purchase price: $51,50020% Down Payment: $10,300Closing Costs: $4,000Total Investment: $14,300Gross Rent: $775Monthly PITI: $380Vacancies/Cap Ex: $50/monthNet Income: $345 per monthAs someone that is familiar with the stock market, I know there aren't any companies pumping out $345 monthly dividends on a $14,300 investment so I'm almost looking at this as a giant dividend check.

The giant neighborhoods that Beazer, Pulte, Mungo, Crescent, etc. build in are always offering monthly specials. $8500 off upgrades, $5000 off total price, and on and on.

Anadarko Moving to MidlandMIDLAND (Realty News Report) – Houston-based Anadarko Petroleum Corp. will build its regional headquarters in the 38-acre Westridge Commons mixed-use development.The company will be the first...

So the tenant of one of my duplexes called me saying there was a giant hole in his kitchen ceiling. 

There is a giant tree around a ton of electrical wires which will cost a bunch to replace.

I'm also interested in investing internationally, especially in Poland and other Eastern European countries (Romania, Bulgaria, Hungary, Slovenia, etc.) where prices are still cheap, but growing hand-in-hand with their growing economies.

But if the stars don't align, this could lead to a giant clusterf*ck, so be careful!

Majority of the the time, most multifamily that comes up, are the ones that need a lot of work, why would anyone sell a giant cash cow?    

They hire the best to run the speeches but you never hear from those guys again, Once you pay those giant sums, you are left to deal with some girls over the phone that keep being replaced (I went through three girls so far), When you call the office is not even identified as anything to do with Chad (The Guru?)