If they want to still see the house after they no-show a showing I give them the date for the next open house showing. 90% of the time they don't attempt to see the house again. 

Just because it doesn't immediately cause us to grab pitchforks and storm the capital doesn't mean there is no value.There are some politicians who know very well that rent control doesn't work, but they would like nothing better than to see the private housing market fail so that the Govt could use that as an excuse to take over "for the public good." 

You're paying $525K for an asset that will generate $3.8k in rent, that's low (see the 2% / 1% rule)2.

I see the general public losing jobs to be a bigger driver in the housing market.

But I have to ask - isn't it worth waiting until Q3/Q4 to see the wave of foreclosures coming through?

If we cant see the pictures or the prices it is tough to give you much more than general advice. 

If it were mine I (MIGHT) spray it white, and put shutters on it and add windows in place of the boarded up openings.As well as add a see through commercial style door on both ends of the hallway (rape and other attack prevention) if the area called for it.Cement a few park style BBQ's into the ground on each side (split them up to prevent tenants arguing) and park style trash cans chained to the ground (with lawn personnel responsible for changing out the bags).A repave and paint of the lot (might be a lender requirement).A commercial awning with WELCOME on it (in a bad neighborhood not everyplace seems welcome).The building name and address (easy for Police and visitors to read from the road).Some leasing signs and good look at the roof regarding replacement (for leaks) because the building looks neglected.Good bright lighting (up high on the building) around the building and parking lot at night, and no bushes (hiding places for attackers).I said (MIGHT) above, because I'd need to take a drive around the area and see the competition, to decide what I wanted to offer to make the building competitive without overspending.Also, I'd do that drive and crunch the numbers on it before being locked into a purchase contract for it, because it might be a pass instead of a buy. 

You should see the house # xxxx on the pole.

Also put the 60 degrees turn on the driver side window so they can see the turn.Put a Wire and posts down the middle of the shared back to back parking so vehicles stay on their side.

We went to see the Rolling Stones play, but the entire area our hotel was in had a loss of power.