Quote from @Colleen F.: @Jeffrey Schratz  I would also say make it livable.

@Alan F. as the hero or the villain?

@Nathan SilverSE varies from class A all the way to class D/F.

:)@Alnie F.

Most are C/D/F neighborhoods.

You are taking out debt to buy speculative property based on a few metrics off a website, likely in a D-F class area that you don’t know.  

@Colleen F., Some of your perspective is different from mine.

Your expenses on the proforma is too low.With properties in F/D areas, I assume operating expenses will be around 60% of the collected rental income.Assume section 8 - lower end: $500/mo/u x 22 units x 12 months = $132,000Assume 10% vacancy (not 5%)less 60% operating expenses (you have to include 10% for property management, 10-15% for repairs and maintenance, you have to factor in replacement reserves - trust me on this: properties in D and F areas will have about 55-60% of the income as expenses)equals $47,520divide by 10% cap (not 9%; in fact, if this property is in a war zone, assume 12%)Proforma value is $475,200 - not $872,000You're acquiring it $120,000Repairs you assume is $140,000.

They will have to correct the issue -remove the dogs- or find a new place. http://www.dogsbite.org/dog-bite-statistics-fatali...http://www.cdc.gov/mmwr/preview/mmwrhtml/00047723....http://www.freerepublic.com/focus/f-news/1058122/p...Read "Landlord on Autopilot" - It covers this topic. 

I also have close to 1 year worth of salary saved, 4 vacation rentals in Panama City Beach Florida that even through Covid did extremely well, a nice 43ft RV that I live/travel in for work, and a beautiful F-350.