The equity in the property is the only thing worth any value since the property itself is very deep into negative cash flow after expenses and debt repayment.

@Jessica Gettle you might want to us PB deal analyzer to create a box and look for properties that fit into that box based on either cash flow or negative flow. 

Can't get past the negative ROI lol.3-5 years is a short time in the long game of changing your family tree.  6 years is not so long when talking about building multi-generational wealth.  

Account Closed,"Pre-foreclosure" covers a lot of ground.Some will need to be acquired thru short sale due to negative equity.Some will be probates where the family just doesn't want to deal with it.Some will be true financial hardships - illness, loss of income, etc.So, yeah - you'll need to "fill your quiver" with a lot of knowledge and skills and use what the deal requires.

Having to buy and install appliances is a negative.

I ask because this deal will be negative each month assuming the other side will also rent for $1400 per month.  

Net cash flow negative is a risk at this market cycle but if you have reserves to cover the negative for years then it could pay off in the long run.

With that said downtown Meriden has a negative stigma attached to it, as most surrounding towns are nicer.

However after analyzing many 4units, they have mostly been negative cash flow even if I purchase rehab properties.

So, while you can get twice or more the average nightly rents per unit (or even more if you are renting out individual rooms) if that also comes with 20-50%+ vacancies then that could easily negate any gains -- and then you'll have the added headache of greater wear and tear and the cost to turn over the property multiple times per month.