I spoke with my compliance department in my company and she addressed how difficult it would be to separate myself from my real estate knowledge and from my responsibilities as Realtor.

Thanks for these responses too, everyone.

What I’m trying to say from all this is that the market is a little frothy right now and you should probably buy for current fundamentals in case the market goes down. 10 years might turn into 20 if you don’t buy something that makes sense today.Feel free to private message me and ask more questions.I am hoping to get something more than just a Bread and Butter property, you can even get better caps in Compton or South LA, but not sure if I want to be in a slow growing area. 

I haven't tried it before with a furnace, but I do have an apartment building with common areas heated by myself, and tenants are responsible for heating their own units.

With enough determination and working slow and steady and working smart you will do just fine.

In my experience, my tenants are human, they pay late sometimes and are short on money sometimes.As a property owner, it's your responsibility to send them notices that they need to pay, not only does this protect you, but it protects your customer, your tenant.

I understand if one does not want any real estate related related responsibilities, then you cannot control the costs.  

It’s interesting that they are trying to revitalize it when they just shut down the firehouse responsible for that area (30th and Clybourn).

Your life, responsibilities, likes, dislikes, etc, are all unique in their combination.

My criteria for buying are at least a 10% CoC return, and $100/month or more in net cash flow PER door (hopefully closer to $200/door).List Price:  $179,900Down Payment:  $44,975  (25% down, assuming I buy at list price)Repair Estimate:  $5,000Closing Costs:  $2,500TOTAL CASH IN:  $52,475Loan Amount:  $134,925Loan Terms:  5.25% fixed rate, 30-year mortgageMonthly P&I:  $745Monthly Rents:  $2,000 ($1,000 per side)Vacancy Loss:  $100/month (I estimate 5 - 8% on multi-family properties, depending on how popular the area is).TOTAL MONTHLY INCOME:  $1,900 ($2,000 - $100 in vacancy)Taxes:  $154/month (you can usually find the actual tax amount paid for the previous year on your city's website)Insurance:  $100/month (ask other investors in your area what they pay, or for recommended agents who can give you quotes)Water/Trash:  $80/month (this is typically paid by the landlord in my area)Sewer:  $50/month (also typically paid by the landlord in my area)Lawn/Exterior Maintenance:  $75/month (my property management company offers this service)Maintenance:  $100/month (people budget anywhere from 2 - 10% for this... if it's a well updated and maintained property in an area that attract responsible tenants, I budget on the low side)Property Management:  $100/month (usually 8 - 10%, but you can find PM companies that do it for less... just make sure they're good at what they do!).