Good news on HomeStyle is no one cares how rundown the house is or if its not inhabitable and you don't need landlord experience that some Hard Money lenders want.

@Hakeem Valles I agree, we'd love to rent just to military members, but what is hanging us up is you can't turn a regular civilian away if they're qualified...

It's when they get a free attorney is when predatory types need to pay attention.I financed a car long ago in the Army, sold to a civilian.

Is there value in buying land/vacant lots/inhabitable houses in cities that are currently depressed? 

Back then, I was transitioning from the Marine Corps into the civilian life and planning on attending college.

As this is a total gut rehab (porch, tilting staircase, HVAC, widening windows, plumbing, et al), everything needs to be done; it is inhabitable.   4-months is the estimate for completion. 

Specifically (for those who asked):-An agent stated a property could get conventional financing when he knew it had previously fallen out of contract because the buyer was denied conventional financing because the property was inhabitable.

(Heating, Ventilating, and Air Conditioning)  I spent a little over 8 years active duty and was involved in Desert Shield, Storm, and Peace from August 1990-March 1991.When I returned to civilian life in 1995, I moved back home to Lower Burrell, PA.  

(Heating, Ventilating, and Air Conditioning) I spent a little over 8 years active duty and was involved in Desert Shield, Storm, and Peace from August 1990-March 1991.When I returned to civilian life in 1995, I moved back home to Lower Burrell, PA.

(Heating, Ventilating, and Air Conditioning) I spent a little over 8 years active duty and was involved in Desert Shield, Storm, and Peace from August 1990-March 1991.When I returned to civilian life in 1995, I moved back home to Lower Burrell, PA.