If you can get into some properties in Salem or Nashua that might make sense too but the tax bill might eat a good portion of your profits. 

Even if you don't like it that much, you eat it because it's free

The fees can dip into your profits and eat at your cash flow.For older homes: The upside is they offer the chance for more cash flow and equity through smart upgrades.

Take it on the chin and eat the 3 years of holding costs and increase in construction costs?

My turnover costs with LTR eat me alive, so I'd rather spend a bit upfront and just keep it nice.

Don't just eat up everything you read and hear.Start asking questions instead of taking everything for face value. 

At least the government wants to keep interest rates down so government interest payments don't eat all government income, but that may mean they don't raise them enough to keep inflation under control.

Typically, maintenance & repair expenses may eat up the couple of thousand you earn annually in the early years. 

Sounds like they are in a pretty good situation unless taxes and insurance costs are going to eat heavily into cash flow or the properties all need cap x improvements and they would rather sell than fix them up.I would have buyers for these if that is what they are looking for.

Everybody has to eat so I'm not going to go into the ethics of it but you have to go into this eyes wide open that public adjusting like this is not, in my opinion, a job to use to get knowledge and experience in property management.