Now this is all speculation on my part but here are the numbers:Asking price: 55k (I will start at 30k but am prepared to pay close to full price as this will be a buy and hold with good cashflow)Rehab: Estimating 50-60k (It is an old building in a historical area.

Most areas are 2-3 cap less than what they are historically.

Also loop in investor focused agents and property managers who should have knowledge and experience and can speak to the area and it's popularity, historical data, etc. 

Rents lag prices, so you can use the appreciation rate if you do not have historical rental data.

As a group, REITs have almost the same historical return as the S&P 500 when measured over a 10 year period.

It has been a very long time since banks actively enforced DOS clauses but it seems that is very likely due to the fact that rates have been on a near perfect downward path since 1982 and are now at historic lows.

There is actually a bit of a rental property crisis there due to so many of the historical rentals going to exclusive AirBnB.

I won't be investing in the riskiest/most supportable asset subclasses such as hotels, and tilt my portfolio the ones that have historically been more stable such as multifamily and single-family housing.

Beleive it or not rates are blelow the historical norms, although not by much at this point. 

It's bad, in that it lacks the historic and rich character that so many early century east side and near-downtown neighborhoods have, with beautiful 100 year old houses full of character that have been well-cared for maintained.