The reason most people shy away from it is that it takes a great deal of knowledge and expertise they lack to develop, not to mention access to a great deal of long-term capital.Unless you were doing the actual blue collar work, you could not make such a project work as it is too small to afford to hire such work done.

There is a good equity position and stable tenants, I just need access to lower cost of capital for a property like this to make these properties cashflow.I am willing to do them together or separate or lumped in with another residential property that I currently own that is cash flowing around 550 a month over the mortgage as well.Thanks in advance!

He is a retired master plumber with GC experience; I have a full time job and experience with buy and hold real-estate and  access to  capital.

As you take over that 6-unit, and frankly with any property you acquire, always be looking at how you can improve the value of the business.  2 main ways to add value. 

Suppose it is a matter of doing enough due diligence on an area or acquiring a property with a good tenant who hopefully is content with where they are at.You are correct about multi-family - there are not a lot of deals out there because there are a lot of people looking and money is cheap. 

The answer to what I was missing with a MLS property vacant and able to cashflow without a lot of work is that it wasn't actually for sale at that price.I've since acquired 10 units in the East Bay (4 in Richmond). 

You'll have 24/7 access to the house (you'll be lining in it) and you can see how others are treating your property.

I'm not looking to sell real estate as a career at this time, I just want access too the mls and be able to look at houses on my convenience. 

HELOCs are a great way to participate in real estate because they offer inexpensive access to very liquid funds. 

Either actual examples or profiles (neighborhood/#beds/general condition/access to amenities/etc) would be great.