If you take this housing away from these people where do you intend to have them live; in the streets, underneath freeway overpasses? 

What is the average house renovation cost in this area and which areas do you recommend?

Your house loans will be long term say 25 years.

Quote from @Kody Smith: without getting too deep into my finances, what my strategy is...1. take loans to buy properties (leverage)2. fix/flip for day to day cash flow income3. use some of the fix/flip income to buy consistent cash flow through:- business acquisition, - commercial properties (MF and store fronts),I have no intention of doing ALL of the management myself, I will hire management as needed (medium term goal)my expected core role is money provider, evaluating the numbers, making decisions, and connecting with investors, wholesalers, lenders, contractors, and property owners.while I am just on step 2 of the journey, I am looking toward step 3 to stabilize, and not worry about if house prices drop mid project or not (or not worry as much) So to be fair this is more about obtaining and growing a real estate business not simply buying rentals for cashflow.

These factors contribute to a stable and expanding economy, which can drive demand for housing.

You could also buy a single family property that you can either fix and flip or house hack.

Also, James Dainard just came out with a new flipping book, The House Flipping Framework.

I've been outbid on a number of houses by banks. 

This looks like my Uncle Bob's house. 

 If you start selling houses in Virginia now 2.5 years from now your business would be humming along.