Lot less multifamily which is why I haven't bought but it is where I grew up.Make sure you study the eviction laws, I believe tioga County (but could be a different close county im not sure) my lawyer told me that you now HAVE to pay to pack up an evicted tenant professionally and store it for months at your own cost if they leave their stuff behind.

We have a tons of lots around here like the one you described, many of which can be bought for cheap and are not listed because there are just barely any buyers for such.

Where an investor bought a ranch out at Big Sur CA. it was like 1000 acres above the ocean worth Millions..

ThanksA property two doors down from one I own with an old house shoved in the rear of the lot sold for $650k in 2018, the developer that bought it built a new house in the front and had the old house declared an ADU.

I just bought a 6 unit property that the rents are well under market on.

I’ve bought 14 houses with no out of pocket $ from built up equity.

Then you could list them as 1031 exchange gold, or dream seller.

However, if you demonstrate that you're abusing FHA loans, such as getting a new loan after six months because you converted the property you just bought into a rental without a reasonable explanation, then you could have issues. 

Quote from @Ryan Fox: @Trent Davis- I bought the property last December and didn't notice any foundation issues at the time. 

When I bought my place, at first you could tie the sewer line to the main house.