They are unpredictable.

The house might appreciate, but appreciate is slow and unpredictable.

As long as this also happens, expect price adjustments to be somewhat unpredictable.

Contractors get screwed very often by these kinds of agreements, and investors get screwed very often too.There's a place and a time for T&M... it's on unique projects with deep pockets and totally unpredictable outcomes.

My brother sold another home in the area - listed it for $969k based on comps and before the open house even took place had an offer for $1.1M.The house is in such need of getting fixed up I get concerned that offers will be a little bit more unpredictable....

You can be a Wolf investor and go in, but for many, especially not local, that is risky and somewhat unpredictable.

From my personal experience someone working for themselves puts in a lot more hours at much more unpredictable times than when working for someone else. 

Add to that the risk of rental caps, picky neighbors, and an unpredictable condo board and I don't see any reason to put my money to work there.

Regards,I think your letter sets the tone for what's to come for them.I doubt they will stay if they think the area is going to result in going to prison.You also might want to legally concealed carry in the area.Dope fiends (their customers) as well as dealers can be unpredictable and sketchy in their behavior, and stealing your shoes could result in a bullet to pay for their next high.Also, watch out for unscrewed but still in the socket, missing, or broken exterior lights--that's rapist stuff.

I personally would not consider any thing below $150/door but will generally target a higher return knowing long term is entirely unpredictable beyond a guestimate.