"Bad" Areas: Where are they and how do you handle them?

[Travis Benham]

*This is my first non-introductory discussion post so have patience*

I've been practicing my skills of looking for deals in the OKC metro area.  I'm kind of attracted to some smaller houses (1000sf or less) as they seem priced right and wouldn't need a huge down payment.  But they are in areas that may be "less than desirable". One is around the I-44/Hefner Parkway/39th Expressway junction, for example.

I'm asking mainly for the OKC market but this can pertain to anywhere in Oklahoma.  What areas do you consider to be the truly BAD areas, and how do you handle properties within? Avoid? Different strategy? Love them?  Better for renting or flipping or something else?