Many times landlords have ran the properties for years and they are TIRED.Based on all the listings I have had in Multifamily and the stories they tell me I would pay the fee for a great property manager.The benefit to owning a 50 unit or greater is usually you can land a 5% property management fee and the company will have a system in place versus a manager doing 1 house who is "winging it".Saturation rate for the area (competition) for your properties product mix and amenities will be key as well as proximity to jobs,transit,restaurants, medical facilities,etc.I don't worry that the property is vacant.Even in high crime areas it's all relative to price.I would not recommend buying in high crime areas for a novice.I have investor groups who do nothing but this and buy really cheap.Eventually these nodes will be redeveloped and cleaned out if you buy right but you have to know the city plans and intricate workings of the area.Don't listen to a seller telling you when occupied it rented for 600 a unit.Base your numbers off of what the market will be doing after your rehab.If rents were at 600 a unit but based on data have declined 1 percent a month and rents now are at 480 then when rehabbed in another 4 months your lease up might be at 460.Look at the big apartments to see what kind of specials and concessions they are running in the local area to lease up.We could all go on forever with suggestions.You really need to work with someone who has intimate knowledge of the area you want to invest in.When doing vacant or development deals the biggest mistake I see developers and investors make is to do rosy projections that 80% of the time do not go as planned.Plan for the worst but hope for the best.

If you take someone with really poor credit, depending on the situation (excluding medical bills for example) what makes you think that they will improve their track record in three of four years?

We are currently getting ready to develop a medical office building.

You see the thing is, the current tennant is operating a medical marijuana dispensary and he needs to expand.

The bully supposedly got suspend for a month and his parents are now suing Casey's parents for medical bills.

@James Swan There is no secret pill, its all about being consistent and persistence and following up after you submit offers.

She told me I will find she filed bankruptcy 4 years ago due to her son's medical bills and "the economy" but she has been in the same rental property in texas for 4 years and is "a great" tennant.

No offense, but just jumping in, as is often recommended, is as dumb as doing surgery on yourself because you read a medical book.

It's a win-win in my book.If you go with the 15yr, yes you will pay it off faster, but you are stuck at the 15yr high payment no matter what happens and that could come back to haunt you if something drastic happens and you have huge medical expenses or something like that.

Due to medical expenses.