This is my first time around the block so I can use as much guidance as possible.

It was a bit of a pain in the *** but that was more due to having a tenant in that could care less about being there when they agreed to be, allowing the management company take point and having a repair company that missed a few things a few times (I thought being a hands off landlord was possible, it didn't work for me). 

As an HOA manager I would say that any terms that make it a pain in the *** to deal with this particular mortgage (ie: lots of oversight) would be a general deterant.

Just posts on cinder blocks, which I'm assuming is not to code unless you're building a shed! 

@Yolanda Sellers - is your two flat in the 5700 block of May Street? 

I literally live around the block from this building.

It is also a pain for public accounting firm's, like ours, as the onslaught of 1099 worksheets coming by email, fax, regular mail, FedEx and I think one even came in by pony express.

But I feel like if there are multiple owners of the property, financing will be a pain (because some of the other investors have bad credit, have high DTI, etc).

I'm a local and very familiar with Chattanooga and surrounding areas and still find myself driving to check out a property that may or may not be a good deal because it is on a street that goes from great to bad and back within just a couple of blocks.

Lots of good info here, even if it is painful.