Hi @Roy PomesWe typically stay away from homes that are under contract with a Realtor. 

Also my wife would be getting the money in equity so it stays in our pocket and we dont “lose” on the purchase end.  

Stay away from drug and gang infested communities, and wait patiently for the right tenant.

It is also not surprising that typical residential lenders would stay away from this type of property as well due to the commercial use aspect.

@Dax Gurr For the most part, I would recommend staying out of the inner city, certainly the low end sections of it.

The large corps / institutional investors behind those buildings don't have flexibility on price due to their construction costs,   while anybody who has held a building for even 5 years around here can if necessary reduce rents a bit to keep things occupied if necessary and stay in the black.  

You may go over next month and find someone living there you've never met that did some deal you aren't aware of.  

I don't know if i should stay away from these and look for 1980 and newer to hedge the risk.  

After several months of her living there  I start to see that she has a guy staying with her. 

I wish I had been as aware and financially advanced as you are now when I was that age!