Hope you have a fruitful week!  

Along with another big point is PM the lower value asset class's are High touch and PM is critical and as most PM companies grow they soon learn that these types of properties are not profitable for them to manage because of the extra work involved so I see the better PM's moving up in asset class's and leaving these types of homes behind...Its not that you can't get lucky and I am sure locals in Memphis think this is nuts but they also source there deals so what they get for 50k may not be what someone from CA can get the same home for in the same condition.My real experience came when I learned  as a lender in possession of a multitude of Memphis properties ...

In a Nut Shell  I bought from Hubzu for $48,000, Rehab Cost $32,000 and sold for $137,500.

It will pay of fruitfully in the future as well.

You don't need to share all the nuts and bolts with the seller, but you have to have your buy strategy thought out.

Its when a neighbor does something to their house or buys a new car and another neighbor try's to keep up or out do them.This is over improving in a nut shell.

He seems like he could be a bit of a nut case.) 

welcome @Wes DurhamI lived in the east valley for years back when the market was going nuts in the early 2000's.

Let's please keep BP a great place, I don't know how fruitful discussing/bashing either religion or someone's profession will be.

I thought that was nuts.