He's in his 80s. b) He is considering trying to convert it into a rental but as I mentioned, the house has a *ton* of deferred maintenance (inside and out), meaning that it is extremely unlikely he could actually rent it to a 3rd party (which is what he thinks he could do). c) Also, he's "house-rich" but "cash-poor". 

In cities like Cincinnati, Cleveland, Indianapolis the clientele can change drastically extremely quick (by a block or two). 

This is not an extremely high leverage. 

Are you guys doing anything differently, direct mail, cold calling?

They are the boots on the ground for the entire maintenance departments of their respective co-ops and have been extremely reliable.I would suggest contacting the HOAs around your investment properties.Best of luck to you moving forward!

@Branden Bennett It seems extremely likely that your dad has equity in these properties, and if he does, that is no small investment advantage.

Also, we need to install insulation below the first floor due to previous tenants saying that the floors are too cold, and heating bill too high. 

I have not made millions as an investor, I just spent more time that I like to admit in "the trenches" (10+ years).First of all the initial due diligence is extremely important needless to say to confirm the collateral is foreclosable but to identify the potential exit strategies for that loan and have a plan in place.

Get caught trying to DIY here and the fines can be extreme!

The challenge I think he will face going with several 6/3's over a MF is that renting by the room is management-intensive, hard to scale, some areas have occupancy limits, and the biggest challenge which contributes to the scalability is probably that there seems to be extremely limited inventory of 6+/3+'s or even 5/2's with basement apartments for under $500k anywhere in Denver metro (correct me if I'm wrong Craig!).