A bad purchase can put you under or you can find some hidden gems. 

-Main streets (like Dorchester Ave for example) are slower to improve, but the side streets might have gems.

I have seen some real gems of duplexes go through that website that you would cashflow $200 per door easy if you ever moved out, plus they are in decent neighborhoods, and they are about 20% below market value. 

But then there are the gems...

Hey Everyone I just want to start off by saying Thank you for all the gems you guys drop in your podcast.I'm a investor/ wholesaler living out in Fort Lauderdale FL which is my market.Astro Flipping Student.

Investment Info:

Office Space commercial investment investment.

Purchase price: $200,000

Cash invested: $30,000

I had the opportunity to invest in a commercial property. I own 15% of the property an...

don't forget to reference this gem on tenant screening first: http://www.biggerpockets.com/renewsblog/2013/01/27/tenant-screening/

I don't finance the vanilla stuff only heavy rehabs that the banks don't want (which we love - great value add deal is perfect).Advice to investors today is that it might be worthwhile to look at the unpolished gems as they seem to be trading at a steeper discount to market value (i.e. home owners are leaving the investment only product alone). 

Have I gotten lucky and found a gem for my first rental or am I taking on too much risk?

Additionally, if anyone is looking to invest in Kokomo, Indiana or the surrounding area (which I think is a hidden gem for investment properties), I'd be more than happy to help out in any way that I can!