The real story, that old rental needs a shit ton of renovations if it cost $700. So after 80k in renovations, you can raise rent $50 to 750$/month of rent. You can invest same 80k in a savings account at 5%, and get half of that income with no risk of a deadbeat tenant, or risk of servicing the apartment, I'm guessing the hitting costs alone cost $100/month. You could also get more $$ investing into the dozens of REITs trading in the stock market. If I was a landlord, I would only rent out those apartments as a favor to somebody I know. Remember how the tenants during covid were braggin on Reddit they were screwing over the landlords, well its payback time. One scumbag, who prolly makes over 100k working an office job, stopped paying his rent "in solidarity" with all the other neighbors who stopped paying rent cause they were laid off.