Also areas where you have trusted family and friends that can give some feedback on local growth areas, areas that might be deteriorating or areas that are development embattled.

@Ray HageI agree as I would stay away from condos as between special assessments and increase of fees, what is the risk vs reward.Many of these buildings are run by people who are not property managers or have development experience and lack the knowledge to properly run the propertyAlso many don’t realize that on older buildings your initial estimate will be 30-50% less once the work starts, especially on older concrete buildings that are susceptible to deterioration due to the weather in these areas (especially the salt)

But, if repairs come up and they don't have the money to fix them, if they put a bad tenant in that does a lot of damage, or in general, if the neighborhood starts deteriorating, it could turn into a bad investment.These are all things to think about with any real estate investment.

Normal wear and tear refers to deterioration over time from ordinary use, but damage like a large oil stain in the driveway from a vehicle is preventable and would fall under tenant responsibility.

Things are going to deteriorate.

Investor Consequences: Deferred Maintenance: Reduced rental income might force some investors to cut back on repairs, leading to property deterioration over time.

I still (strongly) believe that supply will pick up in the spring once STR owners are disappointed with 2021 holiday figures, deteriorating property values on the mountain.

Often, units that are sitting on grade will see deterioration of the cooling fins, due to animal urine or other contaminants, and physical damage, both of which affect performance.

So its just deteriorated over time thats why the OP says you can buy houses there for 15 to 30k they price for risk and the 15 to 30k homes are just land lords selling their beat to crap rentals and escaping that ares..

I see this all over Philadelphia with Properties built around that same time that are deteriorating due to contractors missing these small ticket items.