I'm looking to acquire and hold long-term SFR properties yet I'm open to any of the other elements of REI business.

As an active investor you are taking on more of the project and managing the elements.

They will demo everything damp down to structural elements.

I'd suggest defining what financial peace of mind is to you, and focus on elements of this biz that will get you there fastest.

As you go down the scale of desirability, the price goes down, until you reach the small station, in a bad location, hard to get to, in a low income neighborhood, with environmental compliance issues.  

I'm a staunch environmentalist, and I so often find that environmentalism aligning perfectly with my staunch capitalism.

As far as macro and micro market goes a certain level of over leveraged financing is normally one element that exist in bubbles.  

@Matthew Olszak - there is a stairway from the back deck of the first floor apt, down to the basement stairs, so there would be some protection from the elements.

The complexity of turning a shell of a building, with what looks to be outdated mechanical systems and structural elements that most likely needs updating, as well as any city permit/planning elements are part of the equation that you have to consider if this is worth the risk.I know I will get flak from members of this forum.

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