What made you interested in investing in this type of deal?

But the deal is still horrible. 

@Jay Hinrichs Yes still good money in flips and new builds to be made especially with off market deals.

You can also identify a city-owned lot through this map and work to incorporate it into a real estate deal with the traditional grant programs serving as a portion of the funding.

At 63 you will have to find ways to speed up the process - partnering, value add and finding extraordinary deals.

We look for multifamily 10-80 units in Jacksonville and Orlando and it's tough to make deals pencil right now for all the reasons Shawn said.

I will be inspecting the property (tour) tomorrow at 10 am What made you interested in investing in this type of deal?

Deals tend to make more sense out there.

As far taking a $1K loss a month, maybe talk to different prop mgmt companies to see if you can get a better deal or if your property needs any upgrades that you can perform in order to ask for a better or higher rent, something to consider.

I did purchase some multi-family properties, however, along the way I also discovered "excellent" single-family home deals that were too good to pass up.