With you being in the middle of it, you stand a good chance of finding some good opportunities.Good luck investing.

If they own it for a long-time, there's a high chance that rents are way below market and the units are not updated.

If someone is buying a 4 unit for $600 that’s doing no one any favors except maybe the seller and the agent, the market is high enough that would kill any chance of a decent priced property.

They may get more than 100 bucks worth of education if they start following the stock/shares, reading reports, watching the financial channel, etc.Start Up/Hustle Capital: It may also be a chance to let them start something up on their own, be it buying and selling something online, an odd jobs business in the neighborhood, etc.

Do you have a whole house attic fan by any chance?  

Chances are she will not stay.When someone wants a favour you are in a position to make them pay.

It's not just the crappy areas that fall victim to theft.Take the time paint the tools with names and engrave stuff on them in more than 1 place.. so if they are pawned you'll have better chance of recovery,, take photos of what you havebut basically tools for some reason have legs.. they walk off.. never to be found again.The security system stuff is fine but finding the creeps and monitoring the system isn't easy..It's when they rip off the copper, and break stuff that things get personal.

If it is in a high demand area of the metro...chances are you will make more money owning this property over the long term than what you will make redeploying the capital to some place else.

Do you by chance have any information or maybe places to look more about the 504 offering?  

Make sure you set up a separate entity for your long-term stuff (or even better an LLC for each property...) and one for flips if you end up doing any - that way there's no chance of being hit for self-employment tax as a 'dealer' under IRS code, for properties that you should have only been paying long-term capital gains tax, on sales of properties that you've held for over a year.