From what I understand, the area is very depressed and they had a huge flood not too long ago. 

The value would be depressed vs a lake with all stick built places.

"Texas" is a huge area so when you say CAPs are depressed, you ahve to be specific.  

Hello 2015 🤣  You're talking either severely depressed areas, war zones, or houses that just about need demolishing for that kind of money in 2021.

Lastly, foreclosure activity remains low, ensuring most homeowners maintain a healthy equity cushion in their properties and preventing a flood of foreclosures that could depress prices, unlike the situation after the previous housing crash.I personally would overpay (if multiple offer scenario) for the right 4-unit where I would live in and be able to generate income as well as eliminate my housing expense (rent).

They'd all have a long-term maintenance plan and schedule and I would be familiar with all their weaknesses.All of them would be peak-period Pittsburgh residential construction, that is to say, extremely well-built brick-veneer residential construction built just before the Depression or during it.

The people I know with tons of money focus on EQUITY GROWTH with the least amount of headache.While initially these depressed D areas might seem like they throw off great cash flow the investors buying in higher quality areas over time for TOTAL RETURN tend to end up much further ahead.Example you have a D property that throws off say 250 a month after the mortgage and expenses.

I've made some money in the stock market but don't like not being able to influence the value of my investment.My biggest hurdles are my current financial position, which will dramatically improve soon; living in Decatur, IL, which is very depressed (house prices are cheap, but no one wants to live there); and my busy job. 

Our area is, unfortunately, economically depressed and has been for many years.

Pow would love to have a legacy and be remembered like Volker, but I think he is also smart enough to realize that if rates go that high, the velocity of money would stop, and we would head into a deep deflationary depression.