Subject property is a 14 unit complex,  built in 1980s,  decent condition with no major repair anticipated.  

Thankfully I have decent cash flow from other properties to easily pay the roof cost.

You DO NOT need money or even decent credit to buy real estate. 

recently got a lead, the guy who has the property is a flipper and says that he does a couple a flips a year, the house is a 4bd 2ba garage and 2 levels, in a very decent neighborhood.

Definitely worth a shot to check it out though!

It's getting hot and will get hotter, this kind of people can completely transform whole neighbourhoods.I heard in downtown only big shots will be able to buy industrial buildings and convert into residential.

I'm seeing less and less of the decent opportunity.

Even still he gets a pretty decent return, not as good as hard money, but much better than sitting in a bank.

@Kevin DicksonI think it sounds like it's worth a shot and I like the creativity.

The income from the building gives me 1750 a month which can be raised with a little elbow grease from one of the apartments to around 1900 giving me a decent cash flow per month.