Sounds like a terrible deal. 

Make sure all units pay their own gas and electric, DO NOT PAY FOR UTILITIES, terrible rookie mistake. 

A high interest rate for rehab isn't a terrible thing. 

If I tried putting a floor down and an experienced appraiser strolled through, I'm guessing they'd be able to tell it wasn't done by the pro because it would probably look terrible.

Since the Worcester website is terrible, here is a link to the Boston one. 

@Jonathan Dunn,I am terribly sorry for not responding Jonathan. 

They get a terrible wrap, especially in Atlanta.

It looks terrible and is a fire hazard.

I'm not a total newbie, I guess, since I do own a rental house (I moved two years ago and since the market made it a great time to buy, but terrible to sell, I became a landlord).So my wife and I are in the early stages of looking for a vacation property.

I ask because I'm currently looking at a duplex, and based on the numbers I've been given, and even with being absurd with my offer price, the Cash on Cash ROI is terrible, but I know without a doubt that I can raise rents in both halves.