Would you buy three homes on one lot ?
I have the opportunity to purchase THREE 2b/1bth homes that are on one lot in Fresno, CA for a purchase price of 215,000 which comes out to $104 per square foot. All three are currently rented out for a combined total of $2,150 a month so they would bring me $1,000 a month in positive cash flow. I walked through all three homes yesterday and they are livable but will need some tlc over the next few years and are in a lower-end neighborhood which is making me question the whole deal because I have no experience in this space. What would you do? any tips?
The few rentals I have are in the best parts of town and I have no headaches at all but I don't have any experience in a lower-ended neighborhood and don't know if it is the best thing to invest my money in. PLEASE HELP!!!