It is very cheap compared to the potential loss if you end up having a title problem.

I agree with Wayne Snell and by going to conventions or online training is worth it's weight in gold.

Banks for lending purposes figure in 5% cost for loss of income yearly on rental properties. at least that's what mine had as average factored in on loan application.. didn't matter that I had had 100% occupancy with no income loss for 3 years on that property the bank still factored it in . 

In other words cut your losses and you will have a profit.

The vacancy loss % is high in fact rather terrible, was it due to a really wrecked apartment that was rehabbed.. 

I would book my contractors NOW if you are doing major work, that will be your biggest vacancy loss if they are delayed. 

In the end I'd put more weight on the type of city I want to live in.

I'm going to venture a guess that your CPA doesn't do a whole lot of returns with rental property on them.The ideal scenario is to have positive cash flow, but a tax loss, but that's not always best for every person, particularly those who don't want higher leverage on their rental properties.Generally, a property that is owned outright or is in the last third of it's mortgage life will show pretty strong profits, even after depreciation.  

However, what you do have to weight is the economic value of your time.  

Building didn't need work, in my analysis.65 Year Old Building.New Roof being installedExpected Purchase Price 300 KNumber below don't include property value appreciation Loan to Value 81.07% Cashflow / Initial Investment (CoC) 0.79% Cashflow / Assets 0.18% CAP Rate 6.01% TOTAL OPERATING EXPENSES $15,610 NET OPERATING INCOME $16,819 Less: Annual Debt Service $(16,324) CASH FLOW BEFORE TAXES $495 Add Back:Principal Payments $4,406 - Depreciation $(617) TAXABLE NET INCOME (LOSS) $4,285 Monthly Income Per Unit Pre Tax $10.32 Thank you