.🔹 Insurance Challenges – Even when insurance pays, it rarely covers the actual cost to completely rebuild.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I predict Albany Park turns into the next Lincoln Square and gets even pricier.

Some have never even seen their property first hand.  

Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

However, you will get a range of perspectives because several here don't mind and even brag about losing monthly.

Oh....you can also pay off the mortgage even faster with your ample income or soon to be ample income.  3-5 year payoff time is definitely possible. 

They are always leased here even for the corporate stations where they have a convenience store, a Popeyes or the like and a car wash.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Does North Carolina law require sellers to disclose past repairs or damages, even if they have been fully addressed?