Those motivations combined with your numbers will get you, or should get you, a number in your head.  

(active listings at 28K down almost 2K from 2014) My thought is people wont sell if they can't buy.This does not seem like much, but given the market was heading up like a NASA rocket, this seems like a stumble.

Thanks everyone for the heads up, very helpful information Eric.Just curious, has anyone heard of ways to locate hot spots in different states or counties?

You hit the nail on the head when you mentioned in your original post that you can fix up the units, but not the entire area.These kinds of properties are not worth the hassle in my opinion.

Thanks for the heads up!

Get your head right and go talk to your tenant.

Thanks for the advance Jenny Cunningham, i think I might be in over my head with this one  anyhow. the houses were $4500 each but has back taxes of $11k and $15k.

Head over to the multi family forums and spend a few hours going through the archives and you will answer many of your questions.

When I get nervous, I second guess, which studies have shows you almost always need to go with the first answer that pops in to your head.  

I've watched my Dad do everything from land development/subdividing to custom builds, so I feel like I know just enough to get in over my head!