It has been vacant for a few years and was most recently a shelter for troubled teens.

Typically "sexy" cities like that don't pencil out for long term buy-and-hold cash flow situations.

I know its not the most sexy thing to say but heck It took my wife and I 50 offers on the MLS to get a deal. 

These guys became multimillionaires after the banking fiasco in the late 80's.The market in my city was in the trash and prime was in the teens.

Brought in all kinds of other late teens.

Tenant drives up in a sexy drop top BMW that couldn't have been more than a year old.

Not a sexy neighborhood, not an appreciation play, just a solid income-producing property that moves me a few steps closer to my goals.In short, I calculate a personal property 'value' based on how much closer it gets me to my goals.Hope it helps.

Its not sexy, salacious, ripe with conflict nor is it some grandiose story of making huge money.  

@Jason D. my start was not to sexy either…I rented mine out when I went back into the Military and realize real quickly after getting a deposit, first months rent, and application fee which totaled right at $1800 that this was a pretty good business.

Yea, there is probably nothing to sexy about plumbing and gas issues to the general public that turn the television show on.