If the walls have “cats” or fire stops the time and labor will be increased add onto that the difficulty associated with running wires through insulation and the hassle of plaster and wood lath walls which were also the key building materials at the time of KnT your costs may increase.

Raise your sights higher.

also be careful of fake lenders.. sounds like your experienced enough to tell the difference.. once U ask for money they come out of the wood work. !! 

Certainly in my neck of the woods SFH rents have come down 15-20% over the past few years - but to be fair if you have a well located multifamily it will rent, as people don't want to deal with maintenance in the heat.I spent 4 hours yesterday weeding my half-acre yard - so I speak from experience!!

(Wood Stove Heat on one side.)From what I can tell it cash flows 400 and is not in need of immediate repairs.

The buyer has rehabed it beautifully with granite counters, wood flooring, landscaping, paint, and remodeled the bathrooms.

It seems that banks are loaning money in my neck of the woods more readily as well.

Here in my "neck of the woods" you cannot transfer maintenance requirements from landlord to tenant in the residential lease unless you want to raise the issue of "equitable interest" in our local courts.

every walmart has a bank inside as far as i know..here it's Wood Forest bank....and there's a walmart near jsut about every low income area where you'll have tenants..i have my tenants put the money right in the account as others have suggested...it's better than using a certain bank where they'll complain about having to go to the bank of america or wahtever bank...everyone goes to walmart so it keeps it convenient for them....i've also heard you can tenants can drop money in a UPS suite box (similar to a PO box), but i havent' tried it

Did a deal on small wood frame/stucco apartment building years back.