This was a safe investment, but it got the ball rolling.

I'm not saying they did not drop the ball, but did you question not receiving inspections over six years? 

I’m interested in small multi family units, with the option of BRRRRing to keep the ball rolling. 

I look at what houses are selling at, what rental are renting for, and just generally try to keep my eye on the ball in the area I invest.

I think investing is about getting base hits, taking advantage of the occasional home run, and minimizing strike outs.Keep the bat on the ball!  

@Steven GouldI agree with @David Abbate; the 1% rule is just a preliminary indicator if the rent vs the price is in the ball park.

This depends on finishes of course, so this is a very ball park number.3- Based on the above two factors, the price they are asking probably needs to come down by 40% which it obviously wont.

My crystal ball is broken right now so I can't tell you when the correction will be here, but I am concern with the upcoming elections next year.  

I would assume the majority of the work isn’t there’s but just makes me nervous that they aren’t willing to play ball

Once you are standing there with an offer in hand and they think "$12,000 if I sign here and I can quit worrying about this thing" it's a different ball game. if they would list it they would want 4 or 5 times that amount.