You may need to get a new countertop in the kitchen, some decent landscaping and minor exterior updates/repairs.

Landscaped the backyard.

Location 1: Great school, lots of company's in the area, and great demographics.

My only experience with a contractor was installing landscaping at my primary residence.

Covered patio with some landscaping.

There are a lot of efficiencies as well with respect to common area maintenance that becomes extremely cost effective the bigger building you get (think landscaping, snow plowing and the ability to hire onsite maintenance personnel and property managers).

Freshly landscaped large level lot with long driveway and plenty of parking.

From what it looks like it needs to be cleaned up (power wash, minor landscape) from the outside and EVENTUALLY I would like to renovate the units.My question is, is it worth it to purchase this home with the tenants paying the mortgage and taxes (no cash flow) knowing that with renovations I can increase the value of this home.  

Their is a lot of perceived risk in the market right now from a lot of unknowns and an ever shifting landscape of economic factors.

I have spent a lot of time getting the house ready for new renters (all new electrical, major plumbing repair, beautiful paint, landscaping, etc) and now that I have done it all, I realize I don't want to even own the house anymore.