In truth I bet the cash flow is better outside the city, because I spend far less on turning a unit than those in town do, I suspect.

That being, will you reacquire the debt again through poor financial practices?

The appraisal alone for a property of this size is going to run $4k+ if I had to bet.

I'll bet that they're every bit as strict as MA. 

Searching for financial freedom i read "Rich Dad Poor Dad" by Robert Kiyosaki  and then stumbled upon investing in real estate  by watching a video on youtube.com by the "bearded one" (Brandon Turner.)

Below market rents, poor management, 83% occupancy, good location.How did you find this deal and how did you negotiate it?

It's around $1800, yeah it looks like a bad one, but I'm betting on future tech companies (apple, google) to bring more positions to the city and appreciation might be able to cut it, but I could be totally wrong though.

Well most of the fears listed here so far would be a result of poor due diligence and lack of precautions when funding the deal.

@Varinder Kumar  Credit unions are your best bet. 

That in my opinion is a very poor  practice and indicates a hobby landlord approach to business.