He probably thought I was a drug dealer.

In large urban areas with relatively concentrated housing, there are generally a large pool of ready buyers so as a flipper it helps to alleviate the risk of being stuck with inventory. 

If it were me, I'd start with painting the ceiling & walls to see if that alleviates the stench at all.

I'm told just around the corner there is quite a bit of drug activity and police are often on patrol in the area. 

I actually mistyped, the house is 3 bedrooms, 1 full bath, and 1 half bath, which would help alleviate 3 girls in one bathroom at once!

Literally have a house in Indy on a street for $150K, on street over all $30K properties, weird but glorious opportunities.Drop me a line I have some war stories that may help alleviate your [email protected]

Trulia's crime rating says lowest and has two drug related crimes reported near that area but that's it.   

Sure, people get shot occasionally but it's mostly because of a drug-deal gone bad or because someone stole $5.

Under this scenario, you would have mortgages (currently 740+ credit gets you 4.875% on a 30-yr), but you would also have 25% - 30% equity (or more if borrowing created anxiety for you) to alleviate much of the risk.  

Usually, a good letter, or good wording will alleviate any Freddie/Fannie guideline rules.