The trick would be finding the right partner, because disputes could be disastrous.Finding the right tenant is key as the wrong ones can set you back a year or more. 

With regards to tenants I guess that’s the risk we all have to take, I might be wrong but I’m guessing in places like lowell where the rent is cheaper the quality of the tenet maybe more unpredictable compared to closer to Boston, what do you think?

She mentioned to me that items under the property to secure the foundation was not completed and began to tell me what was wrong.

If they do not you either have the wrong strategy or you it is flawed somehow.Once you know what the strategy is to get you to the goal then you locate the market that fits the strategy.Then you create your team in that market.

I could be wrong, but it seems most old school retiring landlords own free and clear in my experience.

@Jay Hinrichs, wrong terminology.  

@Stephanie P. ok so its becoming obvious I am calculating my mortgage payment the wrong way. 

I don't understand why the owner would be selling something like this unless there is something wrong with the property or tenants.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

I am interviewing new property managers but also had a discussion with the current managers to see what went wrong and how the issues might be fixed.The current property managers tried to reason that in my area/county I would need to expect a higher eviction rate due to the tenants that rent there.