When I was at the auction a bidder was buying vacant lots, land locked lots, & undesirable lots.

2% to 8% is possible but is usually going to be in undesirable neighborhood.

In reality, most high current income property investments are located in undesirable areas, either war zones or areas with declining populations.

Hey guys,I've been doing the numbers for a few properties, and I'm wondering what type of CAP rates you usually tend to want with a decently maintained clean house with hardly any issues.Some of the homes that I've recently looked at have decent CAP rates but the amount of work that needs to be put into them makes them undesirable (Water damage, caving in floors, Leaks and Roofs going bad).What is a CAP rate you usually end up getting with your properties and or look for in any properties? 

The possibility of getting stuck with an undesirable long-term relationship is exactly why you have to vet like crazy before you cut a check. 

I know a similar situation has happened in NYC too with people getting priced out of areas that at one time would of been considered undesirable or cheap. 

However, since you mentioned California and lots located in desert-like zones, I would say that those are proberly undesirable ones for you.

You said , at least one of the houses is in a undesirable area.

I don't follow that area but there are a few on here that do and it sounds like there are some undesirable areas so you may want to watch for that.

If we are talking about generalities, the West side is considered desirable whereas the east is considered undesirable.