It'll likely put you in more challenged areas so there's higher probability for headaches but those properties that do work out, tend to do very well. 

Hopefully you get it.It looks like your strategy would work out great, especially if you can get it anywhere close to $450k. 

But the property as a whole was in much worse condition than expected, so I don't think the numbers would work out for me.

If you are comfortable with it, it could work out great.

I'll be contracting all the work out myself

I did that once and it didnt work out to well.

It's more capital intensive than most other markets and the pay off can be bigger.

**Dual Representation or Referral Options**: If you’re open to a co-brokerage scenario, you could also work out terms where your realtor earns a referral fee instead of the full buyer commission.

LTR or Mid-Term RentalIf STR doesn’t work out, consider mid-term rentals targeting professionals, which could offer higher rents and more stability than long-term leases.3.

Has had only 1 offer)The numbers and the neighborhood stats work out for us so it's a deal.2.