I am working on three properties right now that are in the 1940-60’s era and they pose their own challenges: electrical heat, cinder block foundations, etc.

Indy can vary block to block and people will often tell you one are is up and coming because it happens to be a few blocks from an area that truly is up and coming.

Roll some cars up into your front yard, put them on blocks and take the wheels off.

You will need to be very careful though as the areas vary, not only by blocks but actually street by street.What your looking to spend and your safety level will dictate more of what areas to look into.   

There is a pending listing (14 days on market) a few blocks away that is, in my opinion, more updated than yours that was listed at $130k.

Here's a few from me:1- Code Enforcement: Houses with lots of violation tend to have motivated sellers.2- Driving For Dollars: Driving the block seeing what has uncut lawns and a deferred maintenance.QUESTION: If it's vacant, how do you guys contact the owners?

Specifically where the property is blocks from the ocean?

I find too many times investors will complain "this project has no comps" when the block has 3 houses worth 400K but its not enough or "that rehab value is to high there is no profit" when there is a 80K profit margin. 

There seem to be a few areas in philly that are up and coming... where some total dump is listed on a block full of new construction.

The thought of being ahead of the curve seems great, but the struggle to get to that point is serious stumbling block for me.