Would any of you guys take a deal with this low of a return?

I waited until I knew enough about investing, to reduce my risk, before I pulled the trigger and made my first purchase.I'm taking massive action to acquire properties over the next 5-6 years and take advantage of the low interest rates.

Gino literally wrote the book on mom and pop apartments....Wheelbarrow Profits.Look for...Below market rentsOvergrown or not maintained landscapingDeferred maintenance on the exterior facadeNo online presence or marketing (word of mouth or signage only)All white interior paint schemesDated lighting and plumbing fixtures100% occupancy (can suggest below market rents)All rents in increments of $25 (a lot of money to be made in smaller increments)2 - 10 year residents at rent rates below new tenantsNo late fees in the P&LSelf-managing (tiring)Self-maintenance (a lot of work)

I really need help here; I would like to paint everything, replace most of flooring (not the hardwood upstairs) to fake wood, and tidy up some of the ugly light fittings/fans.

You have very low end apartments along with higher end homes.

I'm curious: is FHA203k strictly for owner-occupiers, just like the other low deposit FHA ones?...

It looks like "average valued" slots in the area are going for 1000-1100.Overall I feel like the CoC for this is a little low considering the initial cash needed.

It might be cost effective to purchase another property since: interest rates are low, deals are out there, etc.

Very low interest rate on the loan.  

If you are buying a property as a long term investment there is nothing better than locking in that low rate for an extended period of time.