Thanks I will try that first just wondering why everyone thinks Texas is a great place to invest with taxes through the roof?

Also, the cold makes it that much harder to repair the roof, which is something we also need to do. 

OK - so, you mean to tell me that you would trade $30,000 in exchange for $5,000 which may happen (of the roof doesn't leak, units don't get trashed, tenants don't skip in the night, main water line doesn't freeze, bed-bugs aren't brought in, and a million other things..)  

If it were me, I would look at how much work it needs to be fixed up/updated, are there any major concerns (old HVAC or an old roof).  

Lots of room to add value.Building needs about $15,000 in repairs(safety margin included) but I am using $20,000 because the siding may need to be replaced before the Cap Ex Fund(using 10%) would accumulate enough to cover it.It had snow on the roof, but I could see moss on it from the little bit I could see.

Even mechanic liens for roofs or any materials that once removed would cause damage to the structure are wiped out in foreclosure... not a lawyer, but have some experience here.

We're also getting ice dam damage along the lower roof lines.

That spread was to single family dwellings.Other expenses and amounts to capitalize from improvements are anticipated as well to be assessed with respect to rental income and increased equity.Example and considerations:If I buy a house that has a 7 year roof,  in 8 years it has reached the end of it's economic and physical life, a repair may cost $7000.

New hot water heaters, new furnace, new boilers, and all of the roofs have been redone in the past 7 to 10 years.

First question: Even if all the big ticket items such as roofing, plumbing, electrical, etc... has been kept up, what are your opinions about building older buildings?