This is an interesting distinction.

Being a big Audible fan the Famous Four segment is drumming up quite a bit a business up for Audible.com as I keep buying books and running out of credits lol.

With the current influx of so much money into the rental property segment, based on what I have heard and read, even if I could raise the capital, large multi family (apartments) are not really an option.My area of southwest Missouri isn't a large population, so there are not to many opportunities other than single family homes that would be within range for me to manage personally. 

The fact there is a very distinct water line about 1.5-2' up leads me to believe there is a significant drainage/water issue.

@Luz Pagan also, if you're lucky enough to have several comps to choose from, you can often see a pretty distinct value to rehabbed vs not.

I like the Wack a Mole analogy.. if I think back on my career in this game that started in 75.there were all distinct and different events that perpetuated a slow down or price compression in real estate75.... coming out of VN war  soft economy83 - 85  sky high mortgage and interest rates  ( SL crisis  but a lot of money was made picking up those deals)89 to 92  in bay area  Earth quake and war.. prices in SF and bay area compressed 20 to 50%  ( we have short memories.) but that was also pre high tech.2000  dot com bomb  short lived 2001  Bin laden short lived07 to 2011  global credit crisis worse i have ever seen or I think any one basically living ever saw.. worse than great depression in many areas...

Let's just agree your target market segment is real slim on these.Now that is the case with distressed homes, but there are also 'motivated sellers' who just do not have time wait 45 days for your buyers with VA/FHA loans to close. 

I do agree though, there are a number of uncertainties with the Foxconn plans and development being completed so there is a distinct element of speculation. 

That will determine which type of property, how to manage it, and how to get the best rate of return from it.Research your local market to see what the best real estate segment is and deciding if you are willing or able to manage that type of property.  

This may or not be the case with your agent but most work in the SFH first time home buyer segment.