I want to make sure I’m not being penny wise and pound foolish. 

Most are undesirable, some fare, none good in my opinion.Is it possible after reno work to target a better quality tenant demographic or is it in a D grade area.Why is the place paid off, you should be leveraged since this property would likely cash flow with 100% financing.

I hear a lot of talk about how 2% is near unobtainable unless it is a c class or in an undesirable neighborhood..  

I spend endless hours in the pool, pedaling hundreds of miles, pounding my feet into the pavement more than any human should.  

Unfortunately it was 45 mins to my property and we decided it was geographically undesirable long term.

Once you fill the vacancies and turn-out any undesirable tenants, it should make you smile. 

My view is that it could be penny wise and pound foolish to shift these responsibilities.

Pound the pavement and talk to seller, agents, etc.7.

From the research I have done, it seems like the terms offered by many portfolio lenders are undesirable (adjustable mortgages, higher rates, etc).

I think I'm just going to have to pound the pavement at the smaller local banks and see if I can get some help.