BP is a great community with a very diverse and helpful membership.

This house is located in a diverse area with about a 50/50 mix of Hispanic and Caucasian families.Option One: A Realtor who works with investors and was referred to me by the wholesale brokerage that I bought the house from.

@Ivan Roberts Im lazy so I'm going to copy this from my profile...Along with being a Commercial Investment Associate, I manage a diverse 18 property Real Estate Portfolio that spans Apartment Complexes, a Storage Facility, Warehouses, an Office Building, Single Family Homes, Condos, Car Lots, and Vacant Commercial and Residential Land.I played baseball until I was 24 years old.

Because there's so much diversity from market to market it might help to get in touch with a few local investor savvy realtors near you and see what they have to say.

Both have vibrant and diverse economies and demographics.

I do not have the experience like you but I believe you can still buy there and make money but you have to ask the right people to find out the best place to go.The first couple of places I would consider to buy for good appreciation opportunities are Highland Park/City Park and North Dallas swill remain popular places to live because, and not the only reason, is because of the City's diversity and all of the relocation that is happening because of the cheap where they come from that is more expensive.  

After competing with 2 other offers, I finally got under contract a commercial property in a prime out of state location that was fully leased with a diverse tenant mix, and was offered at a reasonable cap rate.

., etc.Other than age-specific issues like LBP and asbestos, the things I'd look for on an old house would be much the same as what I'd look for on a newer house--these things would include: signs of water diversion failures (such as rot, peeling paint, masonry damage), settling issues, the type and age of plumbing, HVAC, and electrical, the condition of the sewer main (scope it), the type and age of windows & doors, a meth test, a radon test, etc. etc.I have properties from the 1910s, 40s, 50s, 60s, and 2000s, and frankly--the older properties are often my favorites, and some of them are the best-performing properties in my portfolio.Just being an old house doesn't--in and of itself--make a property "good" or "bad"...plus, old houses sometimes have charm and aesthetic appeal that no new house can touch.

You should explore the area(s) before you commit; the Pocono's are similiar to Long Island, very diverse, seasonal, commuters and natives. 

@Bryan PhamA self-directed IRA can provide many great oportunities to diverse your retirement portfolio!