@Terrell Sapp While it is often used for scams, this seems like a classic legit case for adverse possession.

That doesn't even meet the classical 1% rule of thumb, which I think it too optimistic. 

This will have an impact on pricing pressure, since demand is higher than supply, classic pricing mechanism at work.

Having heard about the real estate business from my mother definitely sparked interest in real estate, however I did not seriously consider the investment side of the business until reading Robert Kiyosaki's classic Rich Dad Poor Dad.  

Then you might craft some reading around your strategy (be it flips, buy and holds, fix and rent, etc).Some classics like Landlording (by Leigh Robinson) Investing in Fixxer Uppers by Jay P.

Sounds like a classic high grass fixer.The lender factor probably won't come into play here.

Not as official residences, but they live there....doing classic cars or what have you.

They put 30k into the property and within 90 days, had the place sold for 169k.Now people thought I had done an incredible job negotiating, but the truth was that I had paid full price.When I had asked the owner the old classic question, "if I paid cash and could close quickly, what would your bottom dollar be?"

Even just glancing at a book like the classic Landlording (Leigh Robinson) at the library or reading other books may let you have some ideas.

The way you recognized the underlying theme of what was working for whom in your clients is classic opportunity identifying.