These areas have more affordable properties compared to Boston and are showing signs of growth, especially with infrastructure and job opportunities increasing.

Responses stating even a mediocre rental property deal will outperform REIT's is way off.

There are risks too, when buying condemned and burned-out houses because you may not be able to control the environment where these properties exist.

Purchase price: $160,000 Cash invested: $45,000 My parents my wife and I own the property next to this one.

@Marc DeLeonibus Hey Marc, I did not end up purchasing the property.

However, I've NEVER had a note called on any properties and the vast majority were "subject too" and/or owner financing.

Whether it be cleaning their properties or doing manual labor.

The issues that most run into though is the property doesn't cash flow enough to support a higher LTV or most lender require a minimum FICO to qualify for the higher LTVs... some lenders have other experience requirements and reserve requirements as well... all depends. 

I wouldn't touch anything outside the urban core. if your strategy is to buy existing and old I'd recommend not to. as a newer investor depending on your liquidity look at build to rent development. building investment properties below market value by 25% and refinancing out of it to do it again. the urban core has tax abatements as well that are 15 years right now you can apply for. that means that taxes will be around $600 to $800 per year. there's cash Flow but the existing inventory market dried up a few years ago in the urban core. local realtors are going to push you to the trash areas like hilltop, south linden, etc because it's the only place numbers work. columbus is great, but remember a tenant who pays $1800 a month is different than a tenant who pays $900 a month. let me know if I can help any other way! 

BP forum messed up my post. was going to say this: I use eggshell for all of my own properties.