Obviously an older property with deferred maintenance would have more need of repairs than a turnkey, but then some newer appliances break faster than older ones.

I can't wait to learn from seasoned investors.

Offer with contingency of an approval of the rent roll and a restatement of the employment and income.To be transparent, our prospective tenants were all m/m so it would have been easy to move any of them out with a 60day notice.If you're going to manage units, you will need time to get "some seasoning" and starting off with some NOI is better than none - - again, the TK and don't be afraid to create one for yourself.

I am looking for older Apartment properties in the 1.5 million range that need some updating.  

When looking for financing in my personal name, even without proper seasoning, I've received decent rates (4.5%) 30 year amortization and 15 year balloon based off of 75% of the newly appraised value. 

Yes, because the top half of the bottom third is...Where starter homes are located...Where I used to buy as a newer investor and continue to buy as a seasoned rehabber...Are a bit older so they tend to have the "right things wrong" with them...Because there are more houses at this tier than at the top...

Seasoned investors are buying in so called bad areas.

You could offer it to a seasoned flipper with the concept when it sells, help them to set a reasonable time frame, they pay off your mortgage.

I have personally spoken to the owner, he is an older gentleman who sounds like he is tired of being a landlord.  

The investor's liquid assets will need to seasoned and sourced for at least 2 months.