There's an old story about a man who spends his whole life traveling the world and spending his small fortune to look for diamonds so he can make a big fortune. 

BUT now that's behind us, we found our diamond in the rough.  

You can't always do a ton for the neighborhood but you can be the diamond in the rough.3.

The real diamond in the rough though was the 2 gutted units, and the ability to create two brand new units for $30K/ each which would dramatically increase the NOI because it would officially be an 8 unit.

The real diamond in the rough though was the 2 gutted units, and the ability to create two brand new units for $30K/ each which would dramatically increase the NOI because it would officially be an 8 unit.

@Ty Upshaw, it appears this property sold at auction in 2012 and was purchased by White Diamond Investments. 

@Jake Diamond No I’m not planning on living there, it’s just going to be a rental for the time being.

I've been watching the Black Diamond market for a couple years as OakPoint worked through the red tape to get the MPD approved.

Today, I own twice as many properties as I did then and the guy I took with me is still dreaming about buying his first rental and blaming me for not coughing up the money for him to take his diamond-encrusted shot at his dream life.There is absolutely nothing in the three-day that I could not have learned from Bigger Pockets.

But from my experience, if you take your time to know the market very well and build good contacts (seem like Javier from a reply is a seasoned investor), there are lots of diamonds in the earth's crust.