If you want to value add you are better off with a structurally sound unit that is priced low and you can rebuild from the ground up front loading the risk.  

Focus on being sure they feel safe in the unit and in the neighborhood.

I received a quote from a broke that mentioned it will be ~$30k/unit (seems high), which should include adding washer and dryer units to the apartment. 

Good evening all.Recently purchased a multi-unit in Hastings, MN and inherited all 12 tenants.

At that point you could either flip or hold the units as rentals depending on your goals. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

If you only have 1 or 2 units I dont see any benefit to using any of these platforms.

If its a 2-4 unit you only need 15% down using a True Portfolio program and you have DSCR as a back up that uses the STR rents to qualify and avoid personal tax returns or income.  

The current owners even added a rental unit into the basement so he could end up house-hacking.

@Samuel Metcalf- thanks   1) I would recomend getting a HELOC in place on your primary residence duplex  for  as much as  possible...this should be available for  free or a low  cost and the rate will be variable in the  8-11%  range ...prime rate +  margin of  1-3% ) ...the min payment is in interest only payment on outstanding balance   2)  use the heloc for the  remodeling  costs ...pay it down as  agressively as you can   3) on the  purchase of the investmenet  1 unit -  you are  allowed to put as little as 15%  of the price for your down payment ...the pricing you get for the loan will improve  as your down payment  grows so you might look at  75% /  80%  and  85%  ltv  options