As investors we have to find a happy medium between covering our butts and finding a realiable contractor at a reasonable cost.

You can even furnish it and rent on a short or medium term basis depending on location.

The current challenges are that we have had success with medium term renters who were willing to pay a per diem amount of $6,900/mo for 6-9months.

Did you try posting on the Medium Term Rentals forum?

Criteria: 2 hour drive from NYC (assuming no traffic)Your hot take: Best market for small/medium multifamily?

There comes a time in most small to medium sized investors careers though where it doesn’t matter what makes sense on paper, it’s the piece of mind your looking for and less properties that are paid off is a simple way to achieve that.

Maybe find a happy medium where the seller's willing to reduce and the buyer can bridge the new reduced gap via cash to the table.              

I avoid them like the plague, and prefer medium to large complexes (partial ownership as a passive) for economies of scale. 

My sewer line for this property exits out the back of the property, turns and runs for about 70 feet on my property and then runs across the back (and total width) of my neighbor's property before hitting the main located in the street. 

The property is in decent shape and requires medium rehab.