You either need to find a property that has the potential to make more revenue than it is currently making (through upgrades or better marketing) or be willing to speculate that rents will increase over time and it will eventually cash flow (something people do all day all over here in CA, but I do not recommend)  

We have two under contract now (6 and 11 unit) that good properties that cash flow, but have upside with raising rents and doing upgrades.

You could always upgrade later if the neighborhood starts to change. 

CapEx are funds that can be used to acquire, upgrade and maintain a property.4.

And honestly, they might be thinking they are upgrading the property.

Purchase price: $285,000 Cash invested: $50,000 Lived in this house and made many repairs/upgrades.

My business partner and I are acquiring a large portfolio in Pontiac and I would like to have someone I can trust do some repairs and upgrades for us and hopefully keep for quite some time.

Same goes for the crime rating.Additionally, I upgraded my BP account and posted in the marketplace. 

Better to borrow private money to renovate and refinance or partner with someone that can upgrade them.

I was able to negotiate down to about $15k under market and will have decent cash flow right off the bat without having to do any upgrades.