Pure numbers don't look bad....And maybe look at some details like property condition (so no major outlays early for capital projects), your home base makes me think college, so are these empty each summer or is there mass competition for students (which can be management challenges).

Anything below that WILL fail, because the water will back up under the overlapping shingles.  2/12 is minimum, 4/12 and above should be considered normal.  

No heat/air, no water, flood/major leaking.

@Shayla Fletcher , two my properties are in flood zones, I have owed both them after 2 100 year floods, and the water did not even reach the homes.  

Easily 95%+ of all new development south of the George Bush is single house builds from scrape-off projects.  30-years ago no one could figure out why anyone would want to live way out in The Colony, Frisco was still just a water tower in the distance, and Plano was just another suburb.  

.- She end up paying $570 a month plus $300 Association, water include.- The rent of one unit like hers at that moment was between $1.200-$1.400.What the heck am I doing?

Here are the numbers, tell me what you think:Purchase price - $399,9996 unit multi-family - gut renovated 3 years agoGross monthly rent roll - $6600 that's with 100% occupancyTaxes - $13648total expenses- 23,208 which includes taxes, maintainence,insurance,sewar/water.  

That "just do it again" attitude is pure predatory and this too is mentioned in Dodd Frank!

Check your local laws, and if your heating system has a timer, you may want to reduce the nighttime temperature by a few degrees, if your water pipes are not particularly susceptible to freezing.

Some are more expensive than others (HOA) fees, some have central water and sewers while others have well and septic systems; most all have recreational facilities; you will find a wide range of prices, dues and taxes.