Even with a PM, it’s still going to be more hands on than I can handle, especially dealing with a B-/C class neighborhood like AC.

My final note on this is I am in a B+ to A neighborhood, with a hospital and college close by. 

Hopefully a B but likely a C.

You can build a brand new B or C level building in an A,B,C or D area.

If it's a B property in Columbus you may be looking at quartz or granite. 

For example, a 10-unit building rented for $600/mo in a B area (say at a cap rate of 5%, and assuming 50% expense ratio) is valued at $720,000 today.

We have to tear out the basement, and put in a B-Dry waterproofing system in this house, so we would be basically starting with a blank canvas.

Our criteria was to buy a C class asset in A/B neighborhood.

They are incredibly low in the Tx major markets for A/B multifamilies.I think you'll find a high quality turn-key operator or two here on BP that could prove to be beneficial to you.

And your realtor will likely throw you a BS reason why you should just go ahead and sign so that they can get that commission.And regarding the seller's possible collecting of the rent - I would have the seller agree to crediting the title company's escrow account the amount of the rent in case the tenant claims on the 1st that she/he paid the old landlord.