Everyone loves saving money until they realize that they were cutting corners and being cheap.

My experience is: if you have a rental that you clearly are putting in the bare minimum to get it rented: cheap carpet, quick coat of paint, cheap light fixtures, repaint cabinets, etc, in these lower income, higher crime areas two things will happen.  

Sage is an outstanding product that is relatively cheap and flexible, if you have a significant portfolio.

They were popular because they were cheap, since your walls were also your roof.

Sometimes owners lock in long leases at cheap rents because they are emotionally attached to the tenants.

I know somebody will read this in 10 years and probably thinks this is now cheap.

Which if youve done flips , but not commerical multi before, you wont miss much,  however a 6 fam is a commerical code permit so there are slight variations between the residential code for essentially all trades which if you dont have a detailed plan and you dont double check every code before you do anything but rely on cheap labor to do your due diliegence for you, what could go wrong ? 

No, not just for being cheap… for being stupid. 

My out-of-state clients love it here because they are able to purchase deals at a very cheap price point and still meets the 1% rule.

You can find cash-flowing rentals at a very cheap price point - anywhere between $120k to $180k.