My brother in-law works there as a Sales Manager with Baby Care.

But purchasing it will wipe out all our cash, so I don't know what to do with it while we build up the capital to make these improvements.

All the baby boomers are going to retire soon and where do they go...

STR management fees (and utilities, paper goods, cleaning fees, extra repairs) generally wipe out any gained cashflow (vs.

Build that cash flow baby.

@Ersi Bice  you need to make the distinction between and investment and a business.if your going into the  ghetto and or hood you need to be in the business of running rentals. if you think your going to make an investment in these properties and sit back and collect rent well then you probably not going to have happy day and chances are you will lose most if not all of your investment..If you choose to go into the business of running low end rentals then put a business plan together the team together and go big.. you need to have 100's of doors to so you can spread your loss's over the entire portfolio.. because you will take loss's.. the Ghetto and hood populations are extremely transient by nature.. ( you can get the long term tenant) but that's not the norm... so your dealing with a lot of turn over.The other issue is security of your properties.. if you don't have near police state type security your properties will get stripped of anything of value within a very short time.Look up DAWGS systems in Chicago you will see how the rehabbers there need to secure the properties. if you not prepared for this you will get wiped out end of story.

Depending on your margins, a new AC may wipe out your profits for a year.  

After maybe 3-4 times looking at properties there I just basically wiped Ward off of my list of potential places to invest.  

I wouldn't necessarily throw the baby out with the bather water here. 

Should I hire a lawyer to perform a quiet title to try to get some of these wiped out?