These are older 80's builds but in a Class B working class area that is booming.

A home about 30 minutes outside of San Antonio in a booming little town.

We actually work in Scottsdale mainly.So now the market here is booming and demand is super strong.But I bet California is also an area with high demand

Each one of those areas has some blocks and properties that can make you money, but the neighborhood as a whole is always stuck in a boom/bust and crime cycle that prevents it from really taking off like Fells Point-Federal Hill-Canton. 

The big cause of this boom was the pent up buyer demand without being able to do anything.

Heaven forbid they are clumsy and trip over that broken sidewalk to your front door that the cheap low-cost inspector didn't make note of - and BOOM, now the college student owns you.

If it's zoned for a mid-rise 5 story building and the surrounding area is booming, then yeah maybe there's some redevelopment potential there that is valuable, but it's unlikely the seller didn't realize that and bake it into the price. 

Just find an area within 2 hours of you that you can buy a 100k house for 20k plus closing and rent for 1000 per months and boom you’re off and running! 

https://www.prnewswire.com/news-releases/the-silver-tsunami-and-the-coming-boom-of-available-homes-300964339.htmlHeadlines include:Baby Boomers are set to leave their homes at record levels in the coming years, freeing inventory in what has been an increasingly tight market since the economic recovery began- Housing released by aging Boomers will provide a substantial and sustained boost to supply, comparable to new home construction experienced in the 2000s boom-bust cycle.- Within two decades, more than a quarter of currently owner-occupied homes will become available.- In some traditional retirement communities, including in Arizona and Florida, that number could reach nearly two-thirds.

From my experience, Columbus is still booming, the deals worth offering on are still receiving multiple offers and have been extremely competitive @Ryan Freet.