Las Vegas is easily 5 distinct neighborhoods.

This distinction if of course most important when you need to use cash out proceeds to pay down credit cards used for rehab or keep the ball rolling and re invest for more flips/investments.  

So these fine distinctions matter quite a lot to me. 

How to spot an Asset Protection Salesman, as distinct from an asset protection attorney?

@Omar @Omar Khan So let's assume that 30k is not my entire capital pool but my risk capital distinct from my portfolio/Net Worth/Savings.

There is no distinction between investment and home ownership in the law.

This is an interesting distinction.

The fact there is a very distinct water line about 1.5-2' up leads me to believe there is a significant drainage/water issue.

@Luz Pagan also, if you're lucky enough to have several comps to choose from, you can often see a pretty distinct value to rehabbed vs not.

I like the Wack a Mole analogy.. if I think back on my career in this game that started in 75.there were all distinct and different events that perpetuated a slow down or price compression in real estate75.... coming out of VN war  soft economy83 - 85  sky high mortgage and interest rates  ( SL crisis  but a lot of money was made picking up those deals)89 to 92  in bay area  Earth quake and war.. prices in SF and bay area compressed 20 to 50%  ( we have short memories.) but that was also pre high tech.2000  dot com bomb  short lived 2001  Bin laden short lived07 to 2011  global credit crisis worse i have ever seen or I think any one basically living ever saw.. worse than great depression in many areas...