@Sebastien Hitier I tend to agree with exception of Dallas... if you live in a state were there are no income tax's then dallas maybe makes sense.. but if U live in say CA with its sky high income tax.. marry that with SKY HIGH property tax's and price's ran up because of the herd mentality.. its about whats left over.. add in ever present foundation issues and high probability of massive hail storms.. and well it can be pretty tough place to actually make any positive cash flow.

After considering how they and the seller would split the spoils of your massive $10 good faith gesture after you failed to perform...

There are plenty that are flying by the seat of their pants One thing your going to see is massive rent increases in some areas.. of course areas dominated by Section 8 will stay fairly consistent but in free market rents landlords are going to really go for it  .. 

Of course there is a difference between showing a minimal loss and claiming massive losses.

We had a little bit of a challenge on our hands: a massive oak tree stump, an old septic system, only 1 bathroom in a small house.

From what you describe I would start at $80-100k and work up from there, that is a massive undertaking.

Massive gains

Aurora is having major issues with taxes.....so they are increasing rental licensing fees, doubling inspection fees, incorporating massive re-inspection fees and raising taxes and utilities...Aurora is being less and less attractive.  

Nonetheless I am eager to get my feet wet in what its like to take care of a property and I feel as if this is the only way to do so without exposing myself to massive liability.

The space is the absolutely massive and will employ thousands of people.