If you excahnge  "No Luck affecting things either way" for "Bad Luck", you still make a profit because of the other elements in the formula. 

These disclosures vary based on property type, but often include things like known flaws with the property, prior improvements or repairs, and potential environmental hazards.

There are many rules regarding zoning, and environmental issues. you can easily get burned if you don't know what you are doing.

In the picture below, the property is outlined in blue and the gas station in red.From an environmental standpoint, is this too close?

Some elements to consider are:1) Do you have the capital necessary to execute the renovation plan?

I’ve read a few post here on BP but still feel out of my element.

Assuming this is on the up-and-up, fire damage isn't the end of the world if you have a good contractor...and assuming the place hasn't sat in the elements for 2-years growing mold on drywall....still houses are sturdy and some of the things that scare people away can be fixed. 

Is there some elements of possible distress.

But think there is a universal element of truth in this video that applies to anyone who relies on leads, leads and more leads....and your post just reminded me of this movie.https://www.youtube.com/watch?

Question to all investors:Have you been implementing green & environmentally friendly products or strategies into your business?