In addition, this house only needs a little work and some of those houses on the web sites are train wrecks (I've been through a couple).

I won't bother to look at a $400 place in the same neighborhood because it'll be a wreck, not a bargain. 

Wife didn't like the bikes and after 2 motorcycle wrecks I could no longer claim that they were "safe". 

You don't need to worry about crime (unless you want really nice things that could get wrecked or stolen), think about the quality of neighbors and livability.  

I also bought a wreck, and did a total rehab.So I'm apparently a corollary to what Troy S was saying above.I'm in the market for adding one more property to my portfolio this year.  

Since they often don't go inside and see the house is a wreck, their appraisal assumes it is in reasonable shape.About 10% of the time the BPO will come back at a value that makes the bank willing to accept an investor offer.

Real Crowd has the only business model that will not wreck havoc on investors if a platform goes out of business.

Does a bathroom remodel scare you or would you enjoy gutting a smelly wreck of a house before you start putting it back together.  

Below that at my request the seller has included the line "Inspection for informational purposes only" and below that "Only serious structural issues (over 5,000 dollars) may be grounds for terminating or renegotiating this contract"I met the seller, flew to the state the property is in and saw the properties my self, nothing seemed wrecked about them.

Now the pressure is building to get it going it makes it nerve wrecking until I get one underway.