Once we get at least one duplex with broken ground (we have limited time here in WI) my husband wants to try and find investors for a small apartment complex (3 buildings-ish, probably about 20 or fewer units).  

Often there are fewer buyers during Nov-Jan, so if you're willing to look hard through the holiday periods when others are waiting for after the new year, you can do a little better on price.If its just the two of you (or even if you have a baby and can manage not to accumulate too much "stuff"), fix it up, live in it for a year (rent out a room if you can - just screen well) and try to save up enough for another downpayment so you can buy another property the next year and keep the prior one as a rental - or if you like your place, just buy the next one as a rental.The suburbs outside the Beltway or sometimes just inside the Beltway are your best bets for these.  

I'm slowly trying to show that the stock market isn't as dangerous as it seems to be.

And it is quite the elaborate process and dangerous. ( blow torches and such...not in my units, thank you! 

So the current condition is sort of undocumented.But what should I do about the electrical in order to have comfort that my tenants aren't in any imminent danger?

The property is a 4 plex in one of the most dangerous neighborhoods in San Antonio.

You are in the state of investor Ron Legrand.Research Ron Legrandon YouTube.My suggestion if you are able to physically go to the owners' door, then a yellow business card in the door jam, or under the doorway is ideal (if you are not putting yourself in danger.)

They are demolishing older buildings in Uptown in order to erect more residential and hotel space, and it looks like that space rents out well.MallsThat's a danger area.

There are usually fewer cash buyers in a market, so you have fewer competitors.I have come to believe that in most cases the ideal amount of leverage is as much a function of the risk tolerance of the borrower as it is a product of the financial calculations.

There is no crime or real danger like inner city stuff.. but the tenants are basically very low income.. so they cant afford much rent.. but you can buy homes for about 20 to 30k in those towns that will rent for 500 to 600 ... but they will never go up in value basically and if you choose poorly your capex will kill any profit.Do you have a burning desire to be a landlord... or is that just something you think you want or need to do.. there are many other avenues to make money in RE without dealing with tenants and taking on those risks.. not many people get rich owning a few rentals unless they are prime CA NY CHC  type assets.