Now, I have a multiunit in Chicago that we live in, and will be looking for the next one in the near future.With respect to your question though, some poeple get stuck in analysis paralysis or just have a fear of succeeding, or of the unknown, however irrational that may be.

Add an “unknowns premium”We see experienced borrowers add 10–20% on top of their moderate/heavy band whenever they have no interior access.

Furthermore, when said list isn’t supplied, all investors are unknown except where those investors who come forward to seek action against CREW.

@Ruvim Vaskovetskiy there are way too many unknowns with your situation for anyone to tell you specifically what to do without looking at your finances.

If you've done any reading in STR groups, you've heard the horror stories about Airbnb delisting a rental for unknown reasons - they won't even tell you why for a week to 10 days, then you have to fight with them to get back on the platform. 

That's the biggest unknown with timelines, individual discretion and public scrutiny. 

However, the numbers tell me losing $30k to $40k one time is better than paying $30k to $40k to lose money every month for an unknown period of time.I wish I had a solution that could magically make this a good investment, but numbers tell me it is not. 

Instead of anchoring on a singleARV or best-case rehab, I’ve been using:  ARV ranges (low / mid / high)Rehab bands (cosmetic / moderate / heavy)Explicit known vs unknown flags (interior, occupancy, title)A downside-first read before even thinking about upside It’s helped me pass on more deals faster and only dig deeper when the risk is clearly defined.

You’re not wrong to be cautious, but I wouldn’t avoid early-1900s homes just because they’re old; I’d avoid the ones with unknown systems. 

Unknown = risk.