Should "war zone" neighborhoods be avoided for first rental?

[Tim Lyons]

I know how horrible it could be dealing with deadbeat tennants, crime, vandalism, evictions, collecting rent, etc.

BUT, when $30K buys the whole house, it seems like there could still be opportunites to cashflow, and you can get into the game cheaply. Sure dealing with the BS above is going to be a burden, but if it's between that, and being a 9-5 worker bee, I'll deal with the BS instead.

Should I just hold out until I have enough cash to buy a cleaner property that will attract decent tennants, or should I actually consider buying a $30K property in a horrible neighboorhood since I can buy now, and POTENTIALLY start cash flowing now?