I would only go that route if I could self-transfer the loan should things go south and the capital cannot be quickly liberated.

It's more about desparation of the Renters not whether or not you are a Conservative or a Liberal.If you are Liberal and you studied Economics to understand the issues better, I'm sure the only conclusion you will reach would be that there needs to be more relaxing of Zoning and other restrictive building codes in order to increase supply of apts which will have a much fairer and better effect on affordability.Just my 2 cents!

If a liberal-leaning judge chooses to give some tenant an extended stay, that directly impacts my household income. 

You have hit the JACKPOT of resources for real estate investors.

Also the liberal attitude and weather increases the homeless issue.  

That's what drives two-earner households into bankruptcy at an increased rate.The reason this conclusion in this book was so startling for me is that, coming from a definite politically liberal viewpoint, Warren follows the government's data on poverty and reaches exactly the same basic conclusions about how families should not spend their income that an extremely conservative popular personal finance author, Thomas Stanley, who studied the affluent relentlessly for decades to write The Millionaire Next Door and other titles, also did.

It perfectly demonstrates pseudo-Marxist ideology being pushed by various liberal arts curriculums and political parties that drives this underlying contempt of capitalism and the opposite end of the spectrum of pure capitalist philosophy.The people being displaced are helpless victims with no personal responsibility and are a single homogeneous virtuous group of "the workers" and the people displacing them(another homogeneous group) are evil profit hungry rent-seeking capitalist, their to exploit them, "the land owners/investors".several replies make perfect arguments that represent my feelings about the specific questions posed, i'll let you  assume what  replies I relate with.I would offer some more philosophical questions back to the OP and others leaning toward the "socialism" side.Is a shark evil for eating a seal, or a human? 

If you are truly doubling your money on a rental property you hit the jackpot!

I echo the above advice to make only the minimum basic repairs: fix the leaks, get rid of the mold, clean it up, stabilize it so water intrusion and whatever issues it has aren't getting worse, maybe do some demo to get rid of major eye-sore areas, slap some paint around strategically, remove trash/overgrown bushes and whatever from the property, improve the curb appeal however possible, apply turd polish liberally... whatever you can do with as little money as possible to make it look a little better, and then wholetail it like a hot potato for whatever you can get. 

The CO ski towns have been invaded by liberal elites from CA.