Or bet on GE and buy it at $35/share when everyone thought it was trading at a great discount until it fell to the teens...

Basically, you buy an apartment that is like a Class C or B and needs some sort of value.  

This is going to be dragged out and covered up with printing press, paper and ink.Putting a floor under the residential housing market should be the very top priority of politicians, everything else hinges on equity in our homes, we can lose the commercial market to some extent, but firming up the residential market should be job one.will they extend, my guess is yes, but I would not bet on it.

For what its worth, I quit college and bet on myself via career and it has absolutely paid off.

That type of price point is likely a C- or D area, so you can expect lower quality tenants.

It will lower neighborhood property values and you will make enemies.These types of houses belong in C or D neighborhoods.

I'll bet on you making it.

This would be in an area that is closer to a C or a D class.

As @Anthony Thompson @Jeff Bousquet and others have said, for these prices expect Class-C or lower which means the target tenant has a combination of volatile employment cashflow and negligible or negative savings. 

They all are in C- or worse neighborhoods.