I and other investors have bought 10+ unit building or packages that are in disrepair, run by landlords with no funds or inclination to rehab them and as a result were rented at very low rates to tenants who wouldn’t complain about all the problems.

I initially found out because my county began sending me delinquent notices. 

I have been offered an exclusive Deal by a local "friend"/ semi-mentor in my small town.  8 standard 2/1 apartments -  Quad, duplex, duplex, 1970 Dated buildings, little neglected but liveableOwner finance: 20yr 6%rate with 20k down------------------------------------------------Total purchase 400KCurrent NOI: 41k     Cap: 10         (Tax,Ins,Maint, Util)Gross rent 4500/mth-----------------------------------------------Upgrade, Est repairs: 60k After reno: NOI: 59K   Gross rent: 6100------------------------------------------------Loan pmt: 2865/mth,    34k/yrCurrent Cash flow: 531/mth,  6,378/yrAfter reno Cash Flow: 2131/mth,  25,578/Yr-------------------------------------------------Added info- -Property line Joins with (growing) Community college-Tiny town-The Buildings are Currently "uglyish".- Current Rent is 150$- $200 behind market avg.I am very comfortable in single family homes in this town (own 18 SFH rented and performing well).

City and/or county. 

Good morning all,I’m a vet and current firefighter looking to build financial freedom.

My goal is to at least have positive cash flow while I build equity in the investment property.Has anyone successfully purchased a buy & hold with this strategy?

. - When building codes are updated, it is often uneconomical for all buildings to be upgraded to meet new codes.

I self-managed and learned to build the houses with my Handyman.  

I am not trying to build a large portfolio of rental properties, just basically let my equity do it's thing from a-far. 

I'm a new investor (have a separate W2 job), looking to build storage in near future.