But at a $1.5M asking price, as long as you don't have to spend more than $300k in rehab (without raising rents), this is a slam dunk deal that should easily be financed  at 75% LTV by a "investment real estate-friendly" bank/credit union that is located fairly close to the properties.

That's why we require clients to spend a couple days with us in Milwaukee up front, so we can get on the same page and determine an asset quality.Hint: the hood looks much better on a spreadsheet than up close in person.

I know our numbers need to be reviewed but I was hoping to get more guidance on what others have done (or would do) in situations like this, minus the sex offender and neighbors of course.

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

Find out who has good Google Reviews (and responds to them), find out who answers their phone, find out who has a polished and professional website, etc. 

I’d join the brokerage that is the best fit personality wise for you and spend all my spare time networking.

If you want to spend the money you can consider triple pane.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

This is day to day spending, rent collection, tax/utility payments etc. (1) account for all security deposits, (1) account for parachute fund, capex items etc.

In addition to reviewing the numbers, take time to tap into your intuition (through meditation or other method) and your gut will help you make the right choice.