The amount of red tape they will have to go through to get that approval - not happening.

To properly value a park requires a fairly deep understanding of how they will operate, given all the potential variables.

Deep clean4.

.- Neighborhoods to Avoid: Are there any areas that I should steer clear of due to high crime rates, low property values, or other red flags?

@Jay Hinrichs We've really investigated Detroit vs other Midwest cities as part of our Deep Dive series and found Detroit is a bit of an odd duck.With most cities, as you get closer to the city itself, the subrubs increase in value.

With a deep passion for NYC's unique real estate market, I specialize in helping investors and professionals make informed and profitable decisions.

Any red flags to watch out for?

What makes a market rough is the barrier of entry to “real deals”.In competitive markets the MLS numbers won’t work for a disciplined investor and good markets are flooded with cash buyers who overpay either cause they have deep pockets or they don’t know any better.  

I don't want to analyze deals to deep because i wont buy for maybe another 8 months or so but is there anything yall can recommend that i can be doing now to help me when it comes down to analyzing deals?

I still think a lipstick rehab is ok for a first-time investor, but you just have to be careful about getting in too deep on your first deal.