I own a number of rentals in places I wouldn't prefer to live myself, but I do have tenants that pay the rent on time, and are content to live there.I fully agree with her approach to your question, though... in order for anybody to give a good answer, one must first understand your goals.  

Finding off market deals is a little more challenging than looking on MLS, but it can be done.

Also, older mobile homes are very challenging to finance which makes them more difficult to sell. 

I faced the same challenge when looking for deals in Austin.

I took this approach and six months later I am able to pull out the equity as a down payment on my first rental (under contract and should close by the end of the month). 

An older building with poor insulation and a lot of air leaks will be challenging with a mini-split.

Of course if you could acquire ALL of the neighboring buildings, you could have much greater control and rental price influence.My guess is that the owners of these buildings are essentially just parking money and not pursuing a value-add strategy.How do you all approach this sub-sector of Multifamily? 

He's honest and forthright about his approach. 

Cash, debt, rents, mortgages, expenses, cap. ex funds and allocation and basically have them give me an "If I were you" plan.The challenge with this is that each investor has their own plan.

The most challenging part for me is going to be running the numbers and analyzing the deal but I have people I can lean on for that and then there’s always here ☺️