In Flagstaff $150k might get you a shack out in the boonies or a 3 bed 2 bath mobile home that needs some major work and would rent for $1.8k.

I purchased a property last year with a single mobile home on it along with two empty lots beside it.

As of early Dec, I’ve mobilized down to a project in Mexico and my roommates are all dry, happy and safe in Southeast Texas.My "free" living room studio below...Screen Shot 2017-12-15 at 6.51.11 AMScreen Shot 2017-12-15 at 6.51.28 AMFinal numbers – renovation ran $24k + 80k purchase price = $104k all-in.Rented for $1500/mo.Appraisal came back in Nov 2017 at $130k.

So I work part time for T-Mobile and unfortunately the retail stores are just slowly dying, due to online shopping.

IE looked great on paper.. but C class or worse Maybe.. and as others stated generally speaking you need to self manage C class.. its a JOB your job is managing  your portfolio top to bottom.. just like if you own a car agency you go to work every day.. or a subway shop or any number of small business's A and B class in almost all metros will be small yeild 3 4 mabye 5 cap.. but its sustainable. its the reaching for the out of area 8 to 12 caps that become negative CAPS..   

Find out if there is a agency you can talk to and let the landlord know you are doing so.

@Brian S.If it were me I would take out HELOCs on the properties so you have it if you need it and then once you use them use agency debt to refinance all the debt into 25 year debt, nonrecourse.

I tried to change that in the calculator on the mobile version of the site (chrome on my Android phone) and I don't see a spot for it.

Another 40 bed motel changed hands along with a mobile home park that had cabins. 

OP, balance sheet lenders should be around 4.75-5%.If you can package multiple resi buildings together for a high enough Loan amount you can go with agency debt.