If your only pool of buyers is one with "buyers with the money to fix a foundation at 15k" and holding costs of over two months due to backlog of drought damaged foundations in area and a reserve to cover the broken pipes, etc which happen when moving a cement slab?

Just think about your market pool.

Speaking spanish is a plus to broaden your quality tenant pool in this area.

Do you folks commute to work alone, or do both use car pools?

I guess you would just have to be the best or seek big pools of capital if the IP was what you were marketing.

This usually means a cash buyer... greatly limiting your available buyer pool.

When I first looked into investing in real estate (I only have one SFH in a low income neighborhood right now) It was pointed out that one of the biggest disadvantages of multi-unit properties is that your buyer's pool is WAY limited when you want to sell.

With $150K, I can pick up 2 free and clear single family homes out here in sunny southern California and bring in $30,000 gross rents.

jim --haha too funny...for those of you who don't know, jim and i met through biggerpockets and are currently flipping a home together...soon it'll be finished, sold, and jim and i will be posting the pics and success story over a few drinks while in vegas :)don--yes this is one of those 'artsy' areas :) they seem to be in high demand to a good pool of buyers..young professionals with clean credit, strong income, and not many debts are getting fha financing pretty easy over in my area...there is a dishwasher to the left of the oven..can you make it out from the pics??

A totally vacant property is usually MUCH HARDER to turn around than a property that is semi-performing.I consider vacant property to be almost like commercial development in that you are overhauling a site and property loaded with risk and long time periods before cash flowing.In the end you can do well but also lose your shirt.With the 16 unit I would take it a step further in your analysis.If 900 to 1100 is the going rent make sure it is accurate.For instance do your competitors have laundry in the room,pools on site,basketball courts,next to work commute,restaurants,etc.