These circumstances center around property that’s so low priced, needs so much work, so unattractive to home buyers, or so undesirable a location, that COMPETENT realtors are not interested in listing the property, oR acknowledge that an offer is not likely in a reasonable period of time.  

@Eric James undesirable land, Along with crime rate

Dean Letfus I'm in Jackson and would say most likely a 3/2 in that price range is in an undesirable area or needs significant repairs.

But both on peripherally touch on the in's and out's of finding and pulling off a deal with no Realtors.

I have stuck with SF's because at my price point, multi-family purchases would be in undesirable areas.

Without reading everyone's posts, here's my two cents:2% rule is more for 4 units and up (at least in my area, Central Maine) OR 1-4 units that are cheap, in undesirable locations. 

You're buying properties that are currently undesirable, and making them desirable.

@David Oldenburg It's truly amazing how you were able to turn a pretty undesirable property to something so modern and expensive-looking without having to break the bank. 

As the tenants became familiar with our management style (such as a more hands on presence than their previous landlord and enforcing the terms of the rental agreement), the undesirable tenants, including the two with pit bulls, decided to leave on their own.

@Frank Boet I don't personally know anything about it, but have seen this local one in Winter Park FL in the news several times and I've read into it quite a bit, Orlando Lake Front Tiny Homes:http://www.orlandolakefrontth.com/It is a 1950's RV park that by road is in  fairly undesirable industrial type location.