Otherwise if you've ran the numbers, sounds like a gem!

On the Washington Post 'Best Books of 2016' list, I stumbled across this gem:'Evicted: Poverty and Profit in the American City' by Matthew DesmondDust jacket: “Evicted” immerses readers in the lives of families and individuals trapped in — or thriving off — the private-rental market for the poor, a brutal world in which landlords have all the power and tenants feel all the pain.

Helena seems to be a bit of a hidden gem.

Its tough to find the gem but worth the work when you find the right one.

These are examples of what I've done, and I've spent less and made more ROI overall than my inner city investment pals.Rural is easily overlooked, but full of hidden gems in my opinion.

Norwood - There's a reason its called "The gem of the highlands". 

There are gems to be found.

As you said, the gems would have to be very attractive though.

It's not totally stripped, but not a gem either.Am I estimating too much for cap ex and maintenance reserves?

Even on not-so-awesome deals there plenty of activity, so I cannot imagine that in a market like this there would be enough "hidden gems" to make a living of off.