Impeccable building, turnkey condition, and huge appreciation potential (Bushwick's booming!)

You're able to learn the basics of a real estate investment with lower risk and build equity at the same time.

Potential Cash Flow + a good chunk of equity in the project is awesome.

House hacking may not be for you, but every method involves risk, expense and discomfort.

Rehabbing homes to force equity can be another full time job, and have a lot of risk. 

Is there any risk for me in doing so (e.g is it indeed illegal or sketchy to do what they're doing?)

. - The Caution: Rusted cast-iron pipes outside are a potential headache.

Another possible benefit is the property may increase in value over the next 5 years and I will have the option to buy at today’s value.It's a bit of a risk for me because the property could decrease in value to a point where I wouldn’t want to exercise the option to buy.

. $1,200 a year is not worth the potential tenant or maintenance headaches.

(and potentially which which counties or towns would be considered the best ones) I would appreciate any feedback or suggestions Thanks in advance,Merry Christmas Edison