Both can be considered tear downs and are in terrific locations.

Everything, everywhere.Also, it's incredibly difficult for an inspector to approve work that he can't see - be prepared to tear down drywall to expose wiring (and is the insulation fire code approved?)

Ask me how I know this....2) the hardware at ikea for cabinets (drawer pulls, etc) is not the best, and needs some patience and tweaking, but can give you a really, really cool look for a lot less than custom.  3) if and when someone tears through the outer laminate (plastic) layer on them, water will destroy them in no time (think under-sink leak)

There was a small house on the lot at one time but the renters were cooking meth so after much fighting with the courts they ended up tearing down the house.

You could look at targeting tear downs, small homes on larger lots, or operate more on the fringe of the city. 

Zoning won't permit tear down and rebuild. 40% of any structure needs to be retained.

The home was a was a tear down. 

I need a kitchen guy to come in a tear down the old kitchen and put in a new one (he needs to also have materials or access to the materials as well) I don't want to go running everywhere.

A lot of wear and tear can occur in a home over the course of 10 years with renters.

However, section-8 will have other unknowns on typically a slightly larger wear/tear on property (not generalizing but section-8 individuals are generally from a different socio-economic background).