I am assuming that since they have been hoarding for so long that the apartments are probably in terrible condition and will cost a lot to renovate for a tenant.

But it is true a bad property manager is a terrible thing and can cause a lot of issues, especially if you combine it with bad screening and a bad tenant.

So far, all the big-box shops (and a few boutique firms) have been a hard pass on my pitch.I'm primarily interested in identifying and wholesaling deals to investors, and not terribly interested in actively representing buyers and sellers. 

Binghamton is a terrible place to invest or a great place to invest, the difference between the two can be a single block.

I'd recommend looking for something with 15% cash on cash return. 6% is terrible!

We had a terrible experience with Timeless Property Management, so we would like to make the switch.

I'm sure somebody will chime in next and say all my advice is terrible LOL but let them pay the six figures to do it the way the town would want it.

The Trulia crime heat map makes the Bates-Hendricks area look like some terrible place, but I know a lot of investment activity has been going on there. 

One I am finishing up now and basically funding the entire renovation out of my pocket because their draw system is so effing terrible. 

If you have the down payment, have reserves and can afford the carrying costs of the rental it's probably not a terrible idea.