If you are okay with your return numbers then there is no issue with this property profile and location.

Depending on where you are looking to buy location can help increase cash flow. 

To prove her point, she put money down on the first triplex we bought, while I was living in a SFR but had to sell and move due to a job location.

If you have a property that you like in a good location, just hang on to it unless you have enough walk away equity to pursue a better option.

@Joe S. some of this is location and the room.

Natural appreciation obviously varies by location, my home city of Nashville rose at 9%.

I was just saying 15k for one dwelling unit is nuts. an offshore architect is an architect not located in the United States. it means he can get to projects quicker, faster, more affordable, and higher quality than most architects in the United States. most architects want 10k for a set of drawings and I can get it done for 1/5 of that.

@Eric LowderGenerally, expenses incurred prior to the property being put into service go towards the cost basis. 

Avoid investing in a poor property or poor location, simply for the depreciation benefit.

Unless you tell your friend to work 100 hours and you work 101 ;) According to prior tax court cases, travel time does NOT count toward material participation time.