Have you ever flipped (gentrified) an entire neighborhood?

[Josh Stack]

Hey Ya'll;

There is this (potentially) great little neighborhood close by me.  It's sandwiched between the small downtown, the fancy gated community with a golf course, a large undeveloped tract of land and the river. It's in a great school district. It's within miles of Charlotte and a major interstate.  Shopping and amenities are not far off either. 

There is no reason it needs to be so rundown and shady... but it is.  It's kind of down a background with a dead end, no reason to go in there unless you are living there.

A house came on the market for 35k not long ago and is listed as sale pending.  It needs a lot of work so hopefully someone will buy it cheap and fix it up.  With a million bucks you could buy up most of the neighborhood - if it were for sale.

A wild dream though would be to buy the whole neighborhood up, fix it up and then flip it off dramatically improving the quality of residents and values of the homes in the process.

Question is - does anyone have any experience doing this sort of thing - taking on an entire neighborhood as a pet (yet profitable) project and flipping the whole thing over the course of years or a decade?

This really is a diamond in the rough...