Honestly, it was totally depressing.

Instead, we only had 4. 3 of them were unqualified and the last was uninterested.As depressing as it was, I took the opportunity to film a video of the home on my iPhone so that I could show the video to any future, prospective tenants.

You do not want to go to depressed markets (i.e.

.$20k is very low - even in many of the more depressed markets which I would strongly question looking at, especially for your first investment.

Him and his wife have been surviving off the proceeds of it, has gathered some income, but (the main challenge currently) he's a Depression era person who's seeking "secure" investment strategies.

In our case, the person living there was moved to an assisted care living facility back in 2007 and the time was not right for selling the house since the market was so depressed.

I agree entirely (although I am convinced I have that manic depressive heat issue wife...

The area is really depressed and the margins can be a bit thin, but there's money to be made.

A nuisance property shall be any property which is in violation of the Borough property maintenance requirements by being in a substantial state of uncleanliness, disorder or disrepair; any property substantially damaged by fire, flood or other natural disaster; any property determined to be uninhabitable by the Code Enforcement Officer; or any property which is occupied by any tenant who has engaged in any or all of the following conduct:1.

Third Question: I have found that depressed properties have been a great way to get deals.