Failure will likely bankrupt you.

This property, as a rental, could literally bankrupt you.  

Of course they never found it and the city of Harrisburg eventually went bankrupt due to the massive expenditure of placing the official USA Today “#1 City in the USA” graphic on every police car, ambulance, uniform, fire truck, building, park bench, police dog, memorial statue, lamppost, street light, crossing guard, trash truck… you get the point.

I can think of 2 recent developments 4000+ acres in my area that very experienced developers went bankrupt on.

One bad tenant and a young guy like yourself is bankrupt and set back ten years.

The city is bankrupt.

Taxes going up in the bankrupt city, services being cut and home prices going down make for a money loosing investment!

Not for me and my wife as we went from millionaires to bankrupt in a few short years with being highly leveraged during the last RE crash.6 years or so after the Bankruptcy we now own our home (about $650K) free and clear.

However, you probably will not go bankrupt from a purchase like this, assuming you have excess cash to cover unforseen large capex expenses like a roof replacement, etc.

The landlords went bankrupt , and the house went to auction. didn't sell.