Are dilapidated and abandoned houses worth it?

[Ken D.]

I know this is one of those questions that is difficult to answer with out the specifics so I’ll narrow slightly down to the markets of Pittsburgh and Atlanta since those are my areas of interest. Through my research and driving around these cities I see a lot of abandoned homes many which are well below market (some 10x) in areas that otherwise look like great areas to invest in. Are these houses just too expensive to tear down and rebuild and too expensive to rehab? Not afraid of full gut rehabs but want to make sure I don’t blindly enter new markets and get my self in over my head. Any advice and things to look out for are appreciated.