Unfortunately we are jumping in with little money but we are very handy and we're willing to do the finding, flipping, maintenance whatever it takes, we're just ready to go.

@Dallas Elkman as a home owner you'll be responsible for all of the maintenance and fixing things when they break.

Greetings, Have a potential to purchase a 6 unit (2 house, same lot, 4 unit and 2 unit) The details are as follows.Year built: 1900 +/-2 houses: 1- 4unit and 1- 2unit on same lotList Price 224,995 (assuming a 190,000 purchase price and 25% down payment)ExpensesMortgage 1104.80/month (20yr term @ 7%)Taxes 443.93/month (5327.15/yr)Insurance 224.58/month Water/Sewer 41.25/monthElectric 10.85/monthGarbage 85.08/monthSnow 68.75/monthLawn 54.58/monthHeat 0.00/month (each unit has its own furnace)IncomeUnit 1 - 550/moUnit 2 - 595/moUnit 3 - 650/moUnit 4 - 750/moUnit 5 - 595/moUnit 6 - 225/mo3365/mo Vacancy 10% = 336.50/moRepairs 5% = 168.25/moCapex 10% = 336.50/moProperty Management 10% = 336.50/moAll units in good shape and no deferred maintenance to correct.

It's hard for me to imagine a newly renovated condo in the Heights as being a great investment in the current market (again, unless you're getting a special deal), but I could conceive of good opportunities around Journal Square that need some work being good deals.If you run the numbers on cost/expected rent/maintenance/repairs it may be obvious which is a better deal, although I subjectively feel that you'll probably enjoy more appreciation, at least in the shorter term, in Journal Square than in the Heights.Good luck!

Selling to me on taking over all expenses (PITI and Maintenance). 

See if there is any deferred maintenance on the property and estimate the costs of repairs.

I would factor in other expenses as well such as water, landscaping, maintenance, vacancy, and capex.

Exactly, making sure that you are working with a reputable turnkey company that does good work on the rehabs with no deferred maintenance, has excellent PM and provides properties at or below market price that cash flow.  

Capex and recurring maintenance cost are not the same.

That said, bigger companies may have more resources available to help support the maintenance of your rental.