PS: Most of the time when you buy a functioning business - and that's what a fully rented MFH setup is, a functioning business - you pay a premium for that purchase, with the risk that the numbers aren't as rosy as they seem.

The accepted standard for determining current market price is to survey the market area with considerations for quantity and quality for a "going price" of the goods and services in question.In a widely cited case, the FTC went after a Baltimore roofing contractor in the early 1970s successfully alleging the contractor was overcharging consumers to reroof their homes.

While it may be true that schools aren't very good in that district, when compared with a GoodSchools.com rating in the rest of Richmond city (surrounding counties are a different story) there isn't much of a statistical difference in quality anywhere inside the city limits which levels the playing field a bit.So that brings it down to whether a potential investor is comfortable landlording in Barton Heights.

Yes, having a PM would be helpful, but I would like to learn the ropes and what my PM should be doing so I can fire them if they aren't doing it!

Just make sure the repairs aren't too bad.

I would also look into refinancing them through a smaller regional bank in your area that keep their loans in-house and aren't dealing with Fannie/Freddie.

Making SFH rentals work anywhere in South Jersey that aren't really rough neighborhoods, is tough because of how high the property taxes are.

Reliability I doubt any contractor would say they aren't however I have references and several projects at various stages to back up my expertise.

:o) But the Hedge funds typically aren't touching the old distressed ones that need work... at least with what I've seen so far. 

You also get what you pay for, but if you aren't looking for a super performing site, more of just a place to reference, then they would be worth it.I use Bluehost for my personal sites, and I don't love them.