In the current RE market, after any value add is complete, leverage is necessary to achieve returns that justify the effort of residential RE.I think you need to educate further.  

.• REI Hub – Clean financial tracking, great for smaller portfolios.• Mashvisor or PropStream – Not management platforms, but excellent for rental comps and market data if you’re still analyzing deals. 

I would connect with an experienced broker who can educate you properly across a wide range of products and services lenders can provide you.

We try to educate our clients to stabilize/renovate the properties up front to prevent the money drain year after year on high maintenance.  

I don’t have the full financials yet (leases, income/expenses), but the listing indicates an average rent of about $650 per space.

What are your broader financial objectives?

Similarly, adding units doesn't automatically make an investment safer; it simply multiplies the points of failure.Bottom line: multi‑family doesn’t automatically equal more reliable income—in fact, it often does the opposite.For over 17 years, we've delivered more than 600 investment properties using this process: start by defining your financial goal.

The rent to cost ratio is just too low for it to make a lot of financial sense as far as cash flow goes for the amount that I would need to leave into the property.

The goal of real estate investing is long-term financial independence.

Mind you, most of these tenants are paying between $2,000-$3,000 for 2 to 3 bedroom units so the $1 is inconsequential to their financial wellbeing.