Sure, there are plenty of places I wouldn't venture because of crime statistics, but here in the Rust Belt one can't be too choosy if one wants to build their portfolio without a massive (i.e. $5mm or more) bankroll.

The West is moving into an environment where there is too much supply due to the massive solar build-out. 

The only way I would buy turnkey would be in a market with massive market appreciation.

I guess we don't want to look back on all this and realize we were the "fearful" in Buffet's quote, when we should have been "greedy".  

First with the rates so low all lenders are struggling with massive capacity issues.

The zoning boards I would be dealing are small townships and not massive cities. 

So that extra cash helps build a little buffet for when the music stops. 

., it's beneficial for me to take accelerated depreciation on the front end which helps my tax situation massively! 

Love that you found this deal by taking massive action - Most people wouldn't have taken the time to spark up a conversation with the neighbors to figure out the status of the property.

Something to keep in mind is if there isn't anything you can do to improve the property massively from a value standpoint, your FHA loan will be stuck to the property unless you have a rather large appreciation spike in the area.