For $1.5 million, you could buy a three-unit deal in a marginal neighborhood that probably barely cash flows if its full all the time.  

BathroomsAre they pink, yellow or blue?

I don't have the experience yet, but I expect tenants are likely to do bare minimum. 

When a tenant turns over you often lose 4-6 weeks of rent, plus the expense of prepping the place for a new tenant, plus possibly paying an agent for tenant placement.So, if you barely cover your mortgage with rent, you are negative cash-flow wise when you consider these other costs.

She had neck drop and couldn't work, but Section 8 kept reducing the amount of rent they would pay and this lady was barely scraping by.

At bare minimum I would raise rents!

The bathroom is still pretty old (think 1960s Pink tile) but clean and serviceable.The upstairs unit, however was in really rough shape.

I have no cash, barely anytime (me and my wife both work) and I try to read and focus on real estate investing when I have free time from family, work and everyday life issues.

As the code requires a bare minimum to pass, when I can, I go a step better, and never try to get away with something.

I’m working on a home in a retirement community now that had barely been touched in 40 years.