And yes i looked it up and understand what it means.

I understand that I cannot simply straight borrow from it, even if the terms are on par with the market.

I understand that leverage means more risk but at the same time more return on investment.

Sounds like you need to learn what the seller's situation is in order to understand the deal completely. 

I understand the 18102 zip code isn’t the best but do we see value 5-10 years down the road?

I understand that multi family properties are the better way to go, but can buying and holding condos for the long run be a good idea as well? 

Investors paying down a rental are the most extreme conservative investors and rarely understand how little their dead equity is actually earning.

From what I've read and think I understand, the biggest mistake seems to be not accounting for all the possible expenses. 

I'm having trouble understanding this concept.

I'm interested in 4-plexs under 300k with value-add potential in the Kansas City and KC metro areas, but want to narrow the areas I'm looking to get better focus and understand the values of that area.