I recommend speaking with @Denver McClure to see what is available given your situation.

Personally speaking, from an investment broker and investor standpoint, I feel single family investing is the riskiest in some investment ways in comparison to larger investments due to the fact that it only takes 1 repair or tax/insurance hike to put you under or lose all income.

Again, I speak from experience.Thank you for your responses and experience.

Speaking to a contractor, just to remodel 3 of the 8 buildings could cost around $750,000. 

Hard money is lending based on the hard asset and it doesn't speak well when the project is mid-process and now more money is needed to be able to finish it.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

@Nadeem AlamgirHi Nadeem, Thank you for your reply, and it’s nice to meet you.What do you suggest I do if I can’t find sales comps in the 10-20 year range you speak of?

Ask to speak with some of their current owners and current/former tenants.

If you're an out of state investor I'd recommend speaking to a turnkey provider that can provide you deals in those cities and can manage the rehab, management, and maintenance for you.I have a market report on Birmingham that I'd be happy to share with you and would also be happy to jump on a call to talk through the pros!

@Matt Smith generally speaking it’s a combination of rising interest rates which have caused cap rates to increase (thus wiping out equity), debt is resetting at higher rates, rising opex costs due to inflation and stagnant or softening of rents due to an increase of supply.