Hi BP:I am new to real estate and I have a war chest to spend.

I have signed numerous releases for houses.The mold would not bother me.

I have seen numerous examples where the investor could have reduced their tax bill by 75-100k yet they ended up paying 20-25k in taxes. 

use your own closing attorney (theirs take forever) ( using theirs. my deal took 9 weeks on a under 25k all cash deal)Dont get emotional or in a biding war.

With numbers like that I don't even have to ask if the property is in a war zone.

I like the Wack a Mole analogy.. if I think back on my career in this game that started in 75.there were all distinct and different events that perpetuated a slow down or price compression in real estate75.... coming out of VN war  soft economy83 - 85  sky high mortgage and interest rates  ( SL crisis  but a lot of money was made picking up those deals)89 to 92  in bay area  Earth quake and war.. prices in SF and bay area compressed 20 to 50%  ( we have short memories.) but that was also pre high tech.2000  dot com bomb  short lived 2001  Bin laden short lived07 to 2011  global credit crisis worse i have ever seen or I think any one basically living ever saw.. worse than great depression in many areas...

Since you care so much about my profile picture, let me share my thoughts on yours; The Marine Corps War Memorial.

The same thing in parts of L.A too that used to be “gang areas “ but now hipsters are getting into bidding wars over properties . https://www.nbcnewyork.com/news/local/Realtor-Hot-Spot-NYC-Realtor-Yelp-NYC-Rochester-Buffalo-450315393.htmlhttps://www.newyorkstatedestinations.com/explore-niagara/elmwood-village-hipster-hotspot/http://www.wivb.com/news/local-news/group-speaks-out-against-gentrification-in-the-queen-city/1083119084.

Dont get caught up in a bidding war. if it makes sense at your numbers stick to it.3.

I am sure they are collecting rent that they are keeping.I have no idea is the house is C, D or war zone.