You'll want to look more at the closing costs than the interest rate since you should have 50k worth of work done in a few months and your rate is annualized meaning that you'd be paying about 1% interest per month.

Side note - he'd be better off if his tenants were scared off since they are paying far below market rent!

Additionally, you may want to ask your insurance broker about rental income coverage as a landlord which could kick in if you have a non-paying tenant. 

When you get their bill pay them the same day in Person.  

Instead of paying $5,000 a month for a mortgage (plus taxes, insurance, and maintenance) consider renting for $3,000 a month and save the other $2,000 a month to apply towards real estate investing.There are many great areas to invest in, and they don't have to be large cities like Cleveland.

.- These total 10 duplexes should bring in 30K gross rent per month and cash-flow about ~3-4K/month.We don't plan to use any of the cash-flow for personal expenses and after keeping sufficient reserves, we will funnel the cash-flow to pay-off existing properties.

I'm pretty handy, and over the years, I accumulated a lot of tools and can do a lot of things myself (minor and major plumbing, HVAC repairs, major remodels, I've done it all, but sometimes I prefer to pay someone else to do it).

Obviously, different people have different reasons for the way they approach their investment strategy:Personally, I prefer to use personal funds and "pay" myself the interest. 

I am hoping to make a low offer closer to 1 mil due to the time it has been sitting on the market and not paying a buying agent 3% but just using an attorney.

I was wondering is paying cash and doing a little rehab on them would be worth the return on rent?