This land is in an urban area of a fairly big city but I do not know the statistics and the neighborhood in the area.

Statistically on every foreclosure the banks lose about 30% of the loan value. 

Obviously a bad idea, but statistically some people will get away with it, then come on the forums and say exactly what you mention, perpetuating the cycle.However as you start acquiring more properties, which I'm assuming is most people's goal on here - to have a substantial amount of passive income - the more individual properties you have, the more chance of at least one big ticket item each year.

The area with the high density red dots is 55411.Minneapolis shots fired - June 3-9 2014http://www.ci.minneapolis.mn.us/www/groups/public/...Here you can look at more periodshttp://www.ci.minneapolis.mn.us/police/statistics/...I don't personally know the area all that well, but it would potentially be one of the more challenging areas of Minneapolis.

Just don't be a statistic.

A common statistical statement is that over time, everything eventually regresses to the mean.  

For a few years now, statistics have shown an unsustainable rise in housing prices as a multiple of family income (over 7 times in Toronto and as high as 11 times in parts of Vancouver) and a widening divergence in the rise in property prices to increase in rents.A correction of prices north of the 48th is not a question of "if", but "when" as the status quo is not sustainable.

For example, investors can check the Bureau of Labor Statistics website to see whether the local unemployment rate is decreasing, which could suggest a smaller chance of renters falling behind on their payments.In addition, the National Association of Realtors' website provides quarterly updates on median home-sale prices in many metro areas.

Thought some of you might enjoy this....The Texas Real Estate Year in Review Report provides annual real estate sales data from a statewide perspective and for 25 metropolitan statistical areas in Texas.

This won't work because of A B C and we won't win because its statistically impossible--no!