(If you are comparing to California, it probably sounds really sexy; I know how tempting this appears!!) 

When we fix the utility issue, get the asset producing like neighboring properties, and add efficient management practices the projections show a mid to upper teen return on investment in a tax favored environment.  1031- We considered allowing a 1031 into our last deal but realized the hassle was too great for a smallish investment ($50k). 

Her two late teen sons were living there and I am told were involved in drugs.

@Travis Washington those old duplexe's look sooo sexy on paper - I had 22 of them at one point.  

we have talked somewhere in the mid teens.

Safe, but not sexy.

A significant portion of my teen years were spent in that mall and others like it. 

Typically I see a lot that are charging interest rates in the low teens with maybe a point or two.

I used excel for years and it was only when I got in the teens in terms of number of units that I upgraded.   

If you are wrong, you are in trouble.While it's less sexy and probably will never have a huge appreciation, I rather invest in a cash-flow market with some potential appreciation, so that I have at least some gain from cash flow, even there is no appreciation (not to mention you can't touch appreciation easily.)