Since I have already suffered due to investing in C- kind of neighborhoods, I am trying to educate myself and avoid them in future. 

Same amount for 15 yrs is $33,143.83 in interest.As you know if you come into some extra money you can either pay down the mortgage or locate another cash flowing property to purchase but it still depends on your strategy.At 24 yrs old I would look at the 30 yr loans and look to build my portfolio for the future.Regardless it is always good practice to have at least 3 - 6 months reserves for each property in case you or a spouse becomes unemployed or you suffer a financial burden.

I have suffered through a couple of bad ones in my day.

tom,i have to tell you that i agree with mike in more ways than you. i know that there are people out there suffering but that's usually because they are lazy and willing to suffer. the only question is whats making them lazy.... it can be a busted up ego over losses or getting fired but if you let that get you down, then your lazy.the goal in life is to do your best under all circumstances. people are happy when they see the proverbial "better tomorrow". and if your doing your best, then you know it will be a better tomorrow.Antonyms for "SUFFER" disallow, fight, refuse, reject Suffer is a verb, its an action that you do. you can choose any of the antonyms above,do any of those actions instead and you wont suffer anymore.jeff

so at the end of the day just take the tax hit.. call it a day and move on.but now that I have gone cradle to grave on this stuff.. appreciation matters more than one can imagine and or you need to hold them to the bitter end.. or suffer the recapture payment.Or if you have a manageable 1031 and extra cash that's an option.

Typically less expensive homes are in less desirable areas and thus rent for much less, tenants are less stable and often are much harder on the property, and you will suffer a bit more from vandalism and property damage from outside sources.Flipping in these neighborhoods is usually hard too, there is not a lot of room between buying the property and its maximum selling price which leaves very little room for you to fix its problems.

@Jay Hinrichs' point can't be expressed loudly enough.Sure, some potential buyers' are hurt by bad ARV and repair numbers, but it's the poor sellers who really suffer.  

Actually it just so happens there is a house on my block that has suffered fire damage.

Many suffer from mythomania. 

But then, you find you can't sell the house for what you hoped, so you rent it out instead- residents know that electric baseboard is more costly, so you'll have trouble finding the best residents(or you'll have to accept a price cut on the rent rate and/or hear griping for the whole winter about how expensive the heating is, and you'll suffer higher turnover.)