@Daniel M Gibson sticking to fundamentals and your "gut" is always the best course.Unlike 99% of the investors on this site, my take is that investing for cash flow is a bad idea...it creates a jaundiced view of how things work...meaning that investing is about controlling assets as wisely as possible...not immediate cash flow.I use seller carried loans routinely because I'm in for the long haul (and I don't need rental income to survive)...as long as the purchase price makes sense, I could care less about income...the concept is debt paydown and future equity.

I have not personally experienced this but I have heard stories where leaks occurred in the unit above and trickled down to their unit causing issues the owners just couldn't avoid.I'm not saying its a good or bad investment. 

Most tenants here have bad credit and they lease because they can not afford a home. 

NOPE..... having a tenant run a business out of your property is almost always a bad idea.

His English skills aren't as bad as that. 

High quality blue chip areas are where you make the strongest appreciation.

The ones that do manage in those areas tend to get bad press--some deserved and some undeserved in my opinion.

I've looked at a number of properties lately where part of the value add is to improve amenities while also upgrading interior units.  A key and feasible amenity that seems to be missing from older properties are pack...

I use a sensitivity analysis as well in my pro forma so I can tell how aggressive I can get or how bad can things get before I consider it a bad deal or lose money.Can't say I haven't lost out on deals just bc of speed... one time I couldn't get a hold of my partner for an hour to decide what entity to submit the offer or hold title in and when I call back the listing agent they had literally just taken another offer.

How's the equipment?