They purchased a 25-unit building worth about $4 million through a short sale for $1.7 million.

If you are all in $200k into a property  and it is worth $350,000 after repairs, then you should be able to receive all of your initial cost on a refinance using the new appraised value. 

Other analysis you can do is analyzing your cash flow, passive appreciation and principal recapture to see the total picture on your ROI.Once you do the analysis, you may find putting money into maintenance may or may not be worth holding the property.

It’s also worth getting pre-approved for financing to ensure you can handle the property’s price and upkeep.

Definitely worth exploring. 

@Sam McCormackSam, it would be great to hear your view of Cincinnati.

So they double or triple the rent, then what’s e trailer worth?

For me, HCV was worth it when I started out.  

Would that be worth it?

Have you looked into Dallas-Fort Worth, TX or Birmingham, AL?