I've been threatened, had a gun pointed at me, hung up on, and made numerous contacts that "disappear" at the moment of truth, but I can eat an elephant as long as I take it one bite at a time.

During our numerous visits and meals with the sellers we obtained many details about the property.

I have arranged for numerous disability related accommodations over the years.Based on my experience, I believe a person with a legitimate disability and a real need for an accommodation would most likely approach this differently than your tenant did.

Numerically speaking, the numbers sound great, but being that's so cheap and in a rougher area so the numbers can be over inflated when you don't take into account tenant issues, maitenance, and possible turn over.

War zones are bad news that's why buyers won't touch anything in them.

I see some go it's just over the other street close by is a comp for ARV of 90k and base buying off of that.In these Urban cities it can go street by street and block by block between a great area,ok area,and a war zone.In a suburban to rural area many times the the property values are the same for the unit mix and the safety of the area is the same.Some people buy trash with cash but I don't like it.Too many things can go wrong.I like to stay patient and look for great deals in good areas.The number of beat up houses on the street is critical.What does the crime report show for that street versus violent and non-violent crimes?

some of my larger competitors have "war rooms" of significantly more.

Never rented it out, just lived in it.1993-2004. 2/2 townhome in near war zone.

Alyn I would look at the annual rent growth trend for the unit mix of your apartments for the location.As I said earlier if supply is low and demand is high you can increase the rents by a bunch and accelerate the CAP.If you are real busy with your job and want turn key then yes you will usually get a smaller CAP for that luxury.As you said for your goals the bigger return isn't as important.At the end of the day it's your life and your investment and money so it's your call.I have some investors that want an 8 cap,some a 12 cap,and some a 16 cap going in.I tell them fine if you want a property needing major work in a war zone.There is nothing in my area in a good location trading at more than a 10 cap period that is in good shape.The reason is other new investors are giddy with a 10% return versus a treasury or CD giving them 1 to 2 % if they are lucky or their stocks are tanking hard.It's just all relative to your investing style as to what will make sense.

Not a war zone!