Comps in the neighborhood are iffy and it seems to be largely block by block as far as how good of an investment I tis. 

Class D   Bars on every corner  , houses with bars on windows  , cars on blocks and stripped ,  drug dealers on the corner , drug addicts  sleeping on the sidewalk , tents on the sidewalk , gunshots , ladies of the evening ( and day ) , abandoned  houses  , graphity on buildings .   

PLus they can get too far behind market rate since then landlords won't take them in market-rate units.Which I get since when HomeForward had open app days, the line would go around the block twice.Anyways, even at higher amounts, (totally anecdotal) higher percentage of single mothers with kids. 

Now if the entire block is well established in a super solid area and it just so happens to be this situation then I would move on to my next criteria - the property itself. 

The statement that I made was in the event that a system was created to block only non abled bodied people from moving into the property.

Tenant also agrees to the following:-All drains, waste pipes, and plumbing are accepted as clear by Tenant at the time of occupancy, and any material blocking them after occupancy shall be repaired at Landlord’s cost, unless determined by repair person that such blockage occurred during the time Tenant controlled the Premises and due to some fault or negligenceCOVENANTS OF LANDLORD.

Hi,I'm considering submitting an offer on a property that's a couple blocks away from Main St in Downtown Littleton.

This are the numbers:25 unitsAsking price 1.5MI will offer 1M $11,780 monthly rent income$13,000 annual expenseYes, the expense ratio is low but it's because it's in the island where we do not have property tax, insurance is for liability around 2k a year and it's all concrete structures. 

Even if the deal wasn’t smooth it was a proof of concept and I paid for my education.We are closing on our second deal on Monday, a good value add 6 unit a few blocks away.

@Ray HageI agree as I would stay away from condos as between special assessments and increase of fees, what is the risk vs reward.Many of these buildings are run by people who are not property managers or have development experience and lack the knowledge to properly run the propertyAlso many don’t realize that on older buildings your initial estimate will be 30-50% less once the work starts, especially on older concrete buildings that are susceptible to deterioration due to the weather in these areas (especially the salt)