2-4 Unit Properties in Cincinnati (& possibly Dayton)
I have my eye on Cincinnati due to the affordable pricing (to purchase my first investment property - buy & hold). Looking for 2-4 units to keep it Residential not Commercial. I see that the buildings are pretty old, and I imagine this is or could be a maintenance nightmare. The Cash Flows that I have seen on the MLS look excellent (on paper), but what are the realities? I guess that ties with my main questions - why are properties so cheap? What's the catch? High maintenance? Tenants who can't pay rent regularly? Low demand for these units? If so, that looks like a recipe for disaster - spending money on maintenance while have no paying tenants. Am I too cynical or is this an obvious red flag? What's the true ROI like out there?