If that's the case,  you have locked in a low property tax base, and a fantastic (high paying, easy to find, easy to manage, etc.) tenant profile, which I would not want to loose.

Oil based heaters tend to be more robust and can be fixed in expensively.If you can't get a 203(K) loan, run the numbers with hard money until you can refinance in 6 months or so.

You are assuming both markets are the same...and because of that, a $60k house in Ohio is the same as a $60k house in Memphis...and you'd be 100% wrong.That $60k house in Ohio, based on that market, could actually be a better house than the Memphis one.  

Do you think my niche is a possible market to delve into based on your experience?

I have a land parcel in the area of Richmond , VA , which i bought in a tax sale for a good price , it is 6.4 acres lot zoned residential in a great location surrounded by built houses also but needs and easement, i did the research for it how it gets solved , and the most convenient solution for it is that There is another 0.5 an acre adjacent to it , was already part of it and got separated by the old owner , which gives it an easement easily and that makes the whole lot easy to have other utilities based on the county opinion after talking to them and discussing that option , that parcel also past due on taxes , owner dead and heirs do not care about it and it is in the process of going to auction GOD knows when , but i assigned that case to a lawyer who had that case for almost 5 months and did not do anything to it after agreeing on filling for an easement by right through that adjacent parcel He did not seem to been working at all and i need to move the case to somebody else from the area who would start working on and has passion to do it ?

The inventory is very low for multi-family in my market but rents are good and in high demand with a quality, stable job base here in our rural community.I have an opportunity to purchase a multi-family property from a gentleman who wants out of the business.  

Based on the location I would guess it has been rented before.

The Southbay to be specific based out of Gardena, CA. 

I don't have any experience with them.however since they are CA based and did not post a CA BRE license number or CFL or NMLS I suspect they do not lend on 1 to 4 units as those require those above licenses if your in CA.Also I am always a little curious about those that say they lend from 20k to 20 million LOL.. no one can make a dime on a 20k loan... so thats curious.Lastly and this is just a personal pet peeve I just don't care for companies that don't list their principals and a small bio on their web page so you can look into the owners on google and make sure they are upstanding citizens.. again maybe its a marketing thing and maybe I am all wet but thats my preference I want to see who the principals are... they should be proud to put themselves up there ( again my pet peeve LOL)Just don't sent any up front money..

On the other hand, I also wouldn't advise going for an A property based on the possibility of appreciation.