May be a bit of a gamble, and may or may not be worth it.

The entire property has development potential and is just on the border of the war zone of town.  

It is sad when you see business places for rent that are on the border neighborhoods of million dollar homes, and they are not being rented, and have been sitting for rent for well over a year or two.  

The other thing that the Agent doesn’t tell you is what your chance of getting the property is - This is like Gambling - it’s like rolling the dice that you will get the home you are applying for.

Oakland County, which borders Detroit directly to the North has the highest median income in the State but the Cities in that County are vastly different.

I am located on the Naperville / Aurora border which is roughly 35 miles straight west outside of Chicago.

They are gambling that FHA will never check in that first year or they have the ability to refi out of it if they do. 

The old adage on BP is don't buy for appreciation that's not investing but gambling, however if you invest get good cash flow and get good appreciation its a home run. 

But we can go right over the border into WA and no licensed required.

It's not in the ghetto but its encroaching the border.