HOA's are no different than single family homes that could need a roof replacement, an unknow code violation due to structural/electrical/plumbing issues or a drug dealer that moves accross the street after you acquire the property.

There are other questionable streets in albany as well, use your best judgement, as a whole I think you will find its not nearly as run down as Syracuse. 

There's 10 on every street corner.  

The DealProperty DetailsOakley, OH (this place has been exploding the past 5 years)the street is one of the last places in Oakley that hasn't been improved (until now :) last year, one the other end of the same street, a investor bought up 10 lots for $650k (average property values were ~$100k and they are building a 200+ unit luxury apartment complexThere are about 5 of these types of complexes that have been built within that last 5 years (3 in the last year)Any thoughts/feedback on buying rental properties near these massive luxury complexes?

Then to take it a step further, most poor people rent, people who are not poor do not buy and live in homes in poor areas, thus homes in lower rent areas are not owned by home owners, which is obvious when you drive up and down these streets.  

I had to involve the police when first floor ran screaming at me in my car on a public street, yanked open my passenger car door while I was in it, and entered the car screaming at me aggressively while I was calling 911, (all because we had made every effort to avoid a confrontation with her), but the police only went to warn her, did not arrest her.  

There's some new money hitting the streets for long term stuff, that doesnt look at DTI. 

From the pictures I've seen, plus speaking to a couple RE agents in the Richmond area, it seems as though the house is not located in the best area (a few abandoned homes, not the nicest neighborhood, no great houses on the street).

Purchase Price 180, 4 family built in early 1900'sRoof, heating, electric all updated in last 5 years, replacement windows and vinyl sidingOff street parking, dead end street c+ b- area30/yr mtg 4.65% about 6k in closing costsAnnual income including coin op roughly 39kUsing 10% for repairs/mait, 5% cap ex, 8% gross rents for prop management, taxes, accounting, lawn/snow, trash, utilities etc....noi is about 14kCFBT is about 6200kI like to get about 200 per unit per month on a 4 fam which i would be able to if not for prop mgmt fee so I'm thinking this is a decent dealThoughts?

Number of beds/baths, acreage, sufficient room for parking, quality of neighborhood, signs of construction in surrounding area, and many more factors.Something I have enjoyed doing while starting out, is rather than driving around to every house on the MLS...take a quick look at the property on Google Street View and run hypothetical numbers on the projected performance of the investment.