In my market I've heard of this same issue with some of the historic 4plexes, which is crazy because the city is forcing them to be brought up to COMMERCIAL code, even though it is a residential (1-4 unit) property.  

Purchase price: $354,963 Cash invested: $45,000 New construction- two 3-story triplexes in historical downtown district of Thibodaux.

Purchase price: $354,963 Cash invested: $45,000 New construction- two 3-story triplexes in historical downtown district.

Chances are you want a bit of both, so depending on your risk tolerance, if your portfolio is at least at 75% LTV with adequate reserves, I wouldn't be too quick to pay down properties at a young age considering historically low fixed-rate financing available today.

After so many this is impractical plus you don't realize the value of reports and historical payments search value.  

Some of the older homes (early 1800s and prior) might be under the auspices of the local Historical commission - aka the "hysterical commission".These can have local ordinances that govern everything from the design of your rehab to the colors you can paint the door.Be sure you know what your getting into with regard to the little old ladies and their clipboards!

Historically real estate increases in value, but a safe investment isn't hoping that the property will only appreciate.

Historically, this has meant many things, including controlling what kind of person (be they poor or someone of color) is allowed to live in the neighborhood.

Historically the worst tenants I have ever had that trashed places have all been older and the worst one was from a couple in there 60's.

We like buy and hold in the uptown because we found there is a demand for nice, updated student housing with historic character.