Nobody was going after the Chinese when they were being sold crap houses in suburbia in the late 90s-early 2000s. 

Overall, I admire your high risk tolerance, but I think your plan is far over leveraged and it scares the crap out of me. 

If I was the landlord I would throw his crap in a storage locker and take whatever minute legal risk that entailed

So if I was in your shoe, I would Airbnb the crap out of this MFH.

Be cognizant of the fact that the city is a crap hole though and while you may have ok tenants, you also run the risk of having bad tenants. 

Recession resistant asset class (people downsize, move in together, move back home, etc. during recessions)Cash flowing asset (not dependent on market appreciation)People buy a lot of crap and toys during good economic times (and need a place to put it)75% of the facilities in the country are owned by non-institutional owners (opportunity for adding value)Small ($10-30) rental increases create large increases in NOI and property valuationSticky tenant baseUnits are easy to maintain (brick and metal, no amenities, little landscaping)Location, population growth, and barriers to entry matter. 

So the details: My agent helped me find this property off-market, the previous owner had just passed and left the property to her daughter and she wanted to just get out from it and move on; its a little bit of a hoarder house (the before pics was taken halfway thru demo so doesn't show how much crap was there!)

But I do not give a crap about credit scores.  

Someone needs to beat the crap out of the prior owner!

There's not a lot of QB tutorials that are specific to real estate industry but a good RE bookkeeper/accountant should be able to guide you to the right direction.