I faced the same challenge when looking for deals in Austin.

I took this approach and six months later I am able to pull out the equity as a down payment on my first rental (under contract and should close by the end of the month). 

An older building with poor insulation and a lot of air leaks will be challenging with a mini-split.

Of course if you could acquire ALL of the neighboring buildings, you could have much greater control and rental price influence.My guess is that the owners of these buildings are essentially just parking money and not pursuing a value-add strategy.How do you all approach this sub-sector of Multifamily? 

He's honest and forthright about his approach. 

Cash, debt, rents, mortgages, expenses, cap. ex funds and allocation and basically have them give me an "If I were you" plan.The challenge with this is that each investor has their own plan.

The most challenging part for me is going to be running the numbers and analyzing the deal but I have people I can lean on for that and then there’s always here ☺️

I think you'll find many like-minded folks here who are working W2 jobs and also launching their REI career...it's challenging but so worth it.If you haven't subscribed to the Bigger Pockets podcast yet, I can't recommend it highly enough.

You should identify what your goals are and what you plan to do and then ask for the “best” approach.  

They were flexible and willing to work with me even though my geographic location offered some significant challenges.