If you lived in the building or a million miles away you still have the option to do no maintenance so that isn't really an argument, imo.

If you use a 10% CAGR for 30 years you get $5.2 million ... drop that down to 7% to account for inflation, you end with $2.3 million.

Sales prices are from 525k-1.35 million in Charlotte, NC. 

It would take quite a few million to get enough income to live off that though.

If the project cost $1 million to complete and the borrower was asking for $800,000, the loan-to-cost (LTC) ratio would be 80%.

Thomas Edison had only 3 months of schooling.Henry Ford had less than a 6th grade schooling.After 28 years of rough times, endless failures and a million of “NO’s,” including the lost of his fiancee, Abraham Lincoln finally became president.

None of this would have been possible without baby steps, 1.3 million dollars of leverage (debt is good!)

Don't buy that stuff.Another example; The other year I found a small 9 unit building by a college, it netted $85,000 per year, and the owner wanted $1 million for it.

@Darren Eady  I am with Darren peronsally too many good notes to fool with all the drama in non performing unless you can buy multi million dollar blocks of them and have deep deep pockets to work through them.

Can it fetch higher rent and therefore cash-flow if you move into one of the smaller units?