Even if you're using a property management company, it'll be more work to run 4 units vs. 2 (more phone calls, more repairs, etc). 

I found a nice one listed 475k with on active unit at 950/mth and 8 empty units in need of repair.

Based on the costs of infrastructure, water, sewer, electric, roads etc. a investor will be deep into debt for a long time before lot rent will even come close to covering debt servicing. 

@Shawn Sithere are - and if you do that, you'll start getting lit up with calls, emails and texts from every lender that that service sells your information to

If you are in fact referring to gross rents, then yes you can get gross rents well above that but after all expenses, includeing debt service, PM, maint, cap ex reserves etc, a good deal is about $100 - $200 a door in pure cashflow. 

Does it need repairs, updates?

To manage tenants effectively, I'll enlist the services of a reputable property manager.

Then around the 10th you would receive the rents they received minus any charges for heir services, repairs, etc. 

Before renting out your property this next time and after you have done any repairs and "cleaned up" the property, I would highly suggest to hire a professional photographer to take pictures of the property. 

Hi everyone,I'm analyzing a deal in Crewe, VA which is about 1 hour southwest of Richmond, VA. The house has two kitchens (one is a mother-in-law suite), 3 bathrooms and is approximately 1600 sq ft. It should not need...