It's an economically depressed town that has seen some really hard times.

I do understand that everyone must live where they can afford, but I would always keep in mind that investors who buy in deeply depressed areas often do so because they don't have a lot of capital or experience; they mistakenly think that "cheap" is synonymous with "value;" and they grossly underestimate the actual expenses associated with the building.Many times, these investors get so far in over their heads that they cannot afford to maintain their building, so they end up doing things like assigning appliance maintenance to the resident in a desperate attempt to regain control of cash flow. 

He sounds kind of weird though, I wonder if he has depression or some mental stuff going on... 

We have found a property located in a depressed area (Flint Mi.) the property seems to be a great candidate for section 8 however we have no experience in this area of the business.We have a good number of other units (not in Flint) and have learned many lessons the hard way through the years.

I ended up short selling, incurring all the debt and lost pretty much everything, almost my house.My construction business almost went bankrupt and I fell into a deep depression.

How often do we hear, "I did everything right and I took it on the chin, then I picked myself up again and did everything right again and took it in the liver, then I realized I was not born under a lucky star, dragged myself out of my general depression and did half as many things not so right and very, very conservatively, and now after fifteen years of barely keeping my head above water I am proud that at 50, I've paid my kid's way through community college and the last two years at a cut-rate state school, and I'm living la vida broke-ah on the 22K a year I clear from my investments, Lord willing I have no major health problems..."

It would be really depressing if I’m denied a license because of a pair of cheap earrings and A bottle of vodka I tried to steal when I was kid.

Purchase price is around $35,000 (my area is very affordable and it is a somewhat depressed neighborhood)I calculate monthly expenses at about $400(and I am trying to estimate high) and the current renters have been paying $600The current owner bought it late last year as part of a package deal and doesn't want to be a landlord so is selling.

It hasn't even been a month, and Duluth is kind of an economically depressed area.

Most are staying away from the real depressed areas within the zones.