@Ezra Nugroho all 3 were clean and paint. 2 had new gas furnaces from last owner, 1 had central air. all 3 had off street parking. 

A/B class are going to be negative cash flow unless you can find an amazing off market deal and/or put over 30% down with a 30 year note.

To me anyone promoting a 36% return I would question and want to understand the risk.

***NOT taking off the old shingles, is only saving you around $1K (give or take)... if you're already going through all the hassle of new system, bite the bullet and do it correctly.When you remove the old layers, you can then: do any necessary repairs; possibly install ISO boards (insulation boards) smoothly; install the good membrane (not simple felt!)

RE investors have enough to keep up with than to venture off on a tangent into the unknown, I know enough about it to know I'm not a buyer or a dealer!

Moreover, to piggyback off others, $200k in virtually any market means C/D-class unless you have vital information about the area turning around/gentrifying (new development/infrastructure).

I regret some of my initial purchases and I would be much better off if I had invested elsewhere.

If the seller keeps brushing you off, I would follow up and try to get them to meet you at least half way. 

This allows you to be mostly hands off and have the property serve as a true passive investment. 

And yes, we always to full tear off.