I've been seeing some cheap houses/apartments in the not so good areas of town and it's tempting to try and buy.

In that time, the town has gone from a sleepy little town and fishing village to a growing tourist and traveler destination.

Similar to how there is a difference between Bird Town and western Lakewood.

I also think college town investing is a great opportunity. 

There is also a big revitalization project in the Portland area, but I think there is a perception of that part of town and it's relative distance to the other areas already mentioned that make it a hard sell.

what are some of the pros and cons of buying a duplex in the bad areas of town.

Sounds like a difficult part of town. 

We can meet at Starbucks at Hackensack or other towns , to share info regarding finding deals, management, financing, etc.  

And the houses can be majorly vandalized post inspection and they do not tell you.Leave money on your plate for major issues so you don't go underwater on them.We have a dummy in my town that bids way up, to the same amount as you could buy a house off the MLS. 

You can find this info in the local news outlets and town hall sites.