I wrote a pretty cool script that allows me to surface real estate buying opportunities based on pretty much any characteristic.

This is taking a list of comparable properties recently sold in the same neighborhood with similar characteristics and estimating a value based on that comparison.

A decent home with fixer upper characteristics, is still well below 200k, where 10K can easily be used for a down payment.

Prairie School influences, Arts and Crafts smatterings, small foursquare homes, not exactly architecturally pure or even noteworthy places.I don't know if that's because of building characteristics in Indianapolis, if there were just a large number of these ugly little sub-1000 ft2 small single-family houses built in what are now the blighted areas of Indianapolis and can be had cheap, but what I do know is that they're not all that usual here in the same areas of Pittsburgh.

As for strategy, I'm considering couple of options: Flips, BRRRR and Rentals (I know they differ from one another, but it depends on my personality as well as market characteristics.2.

For me I'm going to look at the particular project- it's cost, complexity, and timeline and ask to see projects of similar characteristics that you've completed to see how you've performed with respect to profitability and time. 

What are key characteristics of a good property?

The appraisal for a mixed use property must:  Provide a detailed description of the mixed-use characteristics of the subject property;  Indicate that the mixed use of the property is a legal, permissible use of the property under the local zoning requirements;  Report any adverse impact on marketability and market resistance to the commercial use of the property; and  Report the market value of the property based on the residential characteristics, rather than of the business use or any special business-use modifications that were made.  

Where ever you decide to invest, the characteristics of the people, the building, and the neighborhood do factor in.

What are the most important demographics or characteristics to consider?