That's not to mention the tenant headaches and fact that you would need to stack up 50+ cheap units each cash flowing a few hundred a month (which looks high on a percentage basis) to start to get meaningful cash flow going, which very quickly starts to resemble earned income from a job more than passive income from investment.

Here's a BP post on "driving for dollars" -- a super cheap way to find distressed and abandoned properties if that's your goal: https://www.biggerpockets.com/renewsblog/2013/05/03/driving-for-dollars-bible-part-1/.

From that perspective, $750 is cheap.

It takes some studying and that pain, but otherwise it's cheap to maintain.

As long as I get it for cheap ;-)But, and that's why I wrote necessarily above, if it's a falling apart 1800's building then you probably not going to get a class A price for it.

It's cheap where I live and I had VA health insurance and no vehicle payments.

One of my vendors says it best "Good work ain't cheap and cheap work ain't good"@David Grabiner

This is a  pretty cheap area to buy multi-family homes. 

If they're being cheap you can maybe offer to pay for the removal but I would mention you ARE NOT responsible for any leaks once they start digging.

P.S. i am currently a fulltime commercial/residential painter so maybe we can work out me painting some properties for dirt cheap and some investor wisdom =) lets connect!