Hi Jewell,The first thing is to see what is lacking the most in the property since small upgrades will have the biggest impact in the areas of low quality to start.

I have tested it in the past and find that it is way off (usually on the low side) for me.  

I can say the number of private messages I received lately from people offering private money is off the charts, which I also find comical as they clearly did not read my profile - and yes my response back is not very kind to them. 

But, ultimately, it could work if you don't mind a low ROI.It could make sense if you look at a lifestyle rather than an investment purchase and you're just happy to cover your costs.

I also know Arizona is fairly investor 'friendly' and has fairly low property taxes.Interested in purchasing small multifamily properties (2-8 units) depending on the property and numbers of course.

The cost stated is so low compared to property value.  

I wouldn't have to wait longer to prove my income on something that price.However, I'm wondering if it's a good investment or, like someone told me, "if house prices are that low, you'll likely be in a poor area and not have great tenants."

The best route is low coverage industrial, industrial outdoor storage.

Low crime, steady employment opportunities in the surrounding areas as well as Appleton. 

Some will go down as low as $100,000.