The fix up and finish out depends upon the strategy whether it be to hold (which I always suggest to ride out the economic corrections) or fix it up to sell it.

Please advise.Hi Jane, my recommendation is to choose cities in safe and economically diversified areas with above-average income and population growth.

If you look through BP threads of "omg when is the crash going to happen" it's overwhelmingly people who haven't done a single deal yet.So unless you have some systemic economic collapse of multiple systems and industries, market cycles aren't a big deal.

Not every real estate deal is a good one, doing your research on the area you are investing in, understanding the economics of the area and knowing the stage of the cycle are all crucial to finding the right deal. 

The Katrina's displaced population was not in the same economic bracket.  

At the price of $1 280 000 with an annual revenue of 88k, bank won't finance 75% of your purchase price, but rather 75% of the economic value determined by revenue and expenses.

I'm 23 years old and will be graduating from UCLA with a degree in Economics in 2018.

If it is in fact a long term hold what do those economics look like?  

Finance and Economics.

Most economic activity contracted sharply and many people lost their homes and had their creditworthiness ruined.