Also, don't be afraid to lob a low-ball offer, and explain that you can't come up unless you have more info.If you like the real estate, just get it under contract.

I've renovated 3 apartments using materials mostly Lowes, Home Depot, Sears Outlet, and Ikea. 

Those that exist are super pricey and the cap rate is super low for even blue collar areas.So right now given the lack of realistic multis to parlay into, I'm considering just eating the tax.

It’s also in a city I know very little about (Norfolk, VA) here are the numbers- I welcome your thoughts/ insights:$259k - sales Price (4- unit building fully occupied)$1460- total mortgage payment (after 25%) down $305- Property Management Feee (10%)$105- trash (total water is $315 p/m but seller bills water to tenants and has it written in the lease)$60 - lawn careTotal rents are $3050Owner says monthly expenses are low.The best case scenario is net income of $737 assuming $400 extra monthly expenses (for worse case scenario unexpected expenses which always come up) and assuming all the tenants pay their rent.Positives- - Seems to be a good cash flow if expenses are kept low and everybody pays- 4-plex is located in an 85% residential area- building is ok condition (built in late 70’s) except roof is 18 yrs old- all tenants are gainfully employedConcerns- while the neighborhood visually looked fine, according to crimemapping.com its a moderately high crime area.

You can buy at the auction, if the starting bid is low enough to make it worthwhile to bid. 

The sad thing is the Baltimore City has advised landlords that they should expect to pay $40-$75 per inspection (wildly low). 

The middle unit is 3 Bed/1 Bath & inherited rent is wayyy low at $1300.

What I do know about the Poconos is low booking window/short season for the year.

You can get in with a low as 3 1/2% down payment using FHA financing (don't need 20%). 

There is strong wage growth, low unemployment and the economy appears to be performing well.