@Serge Hounkponou Recommend you first figure out the property Class you want to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Here is the short of it.Does this look like a good deal? 

There are some great neighborhoods here that balance cash flow and appreciation, like Fountain Square and Bates-Hendricks, and parts of Irvington.

It is surprisingly easy to manage out of state and if you want more tips on how, check out Bigger Pockets book "30 Day Stay" on Mid Term Rentals. 

Most rental properties in Milwaukee are old and run down, our product stands out. 

Do you have a significant other who could take out the loan?

We got 4 properties out of 300 mailers.  

@Frank Hotard oh man the joys of home ownership! 

Buyer is a newly formed LLC out of Houston, so even farther away.  

It would be nice to cashflow that much with no money out of pocket, but everyone has their own strategy and circumstances.