I'll play devil's advocate, at that price you might as well invest in multifamily units. 3-4 unit properties are selling in the low $200K and with an average rent of $700/unit, you get better cash flow and spread out risk (1/3 units vacant versus the house 100% vacant.)You do your inspections and make necessary improvements upfront to offset the risks with buying a "used" property instead of brand new construction.Alternatively, how much of a price difference between new construction and a remodeled home?

She specializes in what you seem to be after: buying up stable businesses for cheap, improving them, cashflowing and then repeating the process to keep expanding. 

By leveraging platforms like Airbnb or VRBO, you can capitalize on the tourist market and potentially generate higher rental income compared to traditional long-term rentals.Speculative Value Growth: Hollywood has seen significant development and revitalization in recent years, with ongoing infrastructure improvements and new attractions.

I made a few tweaks - here is version 1.1 - please PM and let me know if you see any major mistakes, or misplacements or have any improvement feedback.

Out of these areas, Franklinton and Linden are seeing some of the most developments, with things like the ONE Linden plan in Linden, which is a 50M plan to improve the neighborhood.

Look at the finances of the HOA, how big is the reserve, were there major improvements made recently (roofs, paint, paving)? 

That may be perfect for your area. 4-5 years to pay back the improvements is rough.

It depends on the location and what improvements you can realistically make to force appreciation.

@Christian Aillon I would not over improve this as the city hates enclosed porches.

If so, how has the experience been, and are there any areas you're looking to improve upon?