Now at her age she has to try to repay what she borrowed on, and I have the weight of the world to try to figure out a way for this money to be replenished.

To my inexperienced eyes, it appears to me that many of the apartments need serious work, primarily due to poor upkeep by the prior landlord and intentional damage created by hostile tenants.

Saving me a LOT up front, but now I can go into ANY situation feeling confident I'm protected by an attorney.It's amazing the amount of weight lifted off my shoulders once I had talked to my attorney.

I may just need to get my weight up and go for a rehab flip or rehab hold.

And make sure to account for the following expenses:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance a) Property Hazard Insurance (0.3-0.45%) b) Flood Insurance c) Earthquake Insurance d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy) a) Water § Sewer § Garbage b) Electricity c) Natural Gas d) Propane9) General Maintenance (usually 5%) a) Upkeep § Landscaping b) Snow removal c) Repairs d) New Appliances e) Make ready10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...

My wife has asked me to look into it but I've always had this stigma that they're depreciating assets that need constant upkeep. 

So with zero leverage, you have 20% of your money at 15% and 80% of your money at 5%....so you make a combined, weighted average of 7% in Plan A.If you happen to have $500,000 in real estate, and you experience nice appreciation....you'll also further do better with Plan B, rather than having $100,000 appreciating in Plan A.

You might find one that is not as experienced based or puts more weight on credit etc. 60% of ARV seems low usually it is 65% to 75%.

If you do not get the rent, or if you do and they default on the utilities again you will need to terminate these tenants.If you end up keeping them when it comes time to renew the lease put them on M2M.

Maintenence and upkeep?