Our Long Branch property has a high ROI, and also has been challenging at times, but still worth it.

But your message caused me to hit the google again :)  I'll tag you and post the links back on my other post where there was a little more engagement.

The challenge is that once we sell it as a fixer-upper the sale price, as you mentioned, goes WAY down because of other properties in the area with the same issue.

You might face a similar challenge here after awhile.

Try to engage with as many like minded individuals as you and those who have already done what you’re looking to accomplish.

(Before the auction)Location: Bayou City Event Center 9401 Knight Road, Houston, TX 77045The Harris County Engineering Department and City of Houston Floodplain Management Office will be offering a short presentation to assist bidders in understanding potential issues with sites located within the floodplain.If you are unsure of the potential challenges that go along with purchasing property in the floodplain, come to this informative session to get answers.The presentation will be followed by a Question and Answer period.Topics include: How to Determine the Floodplain Status of a PropertyWhat Jurisdiction the Property Lies WithinFloodplain Management Rules for Unincorporated Harris County

There's much more around  technology engaged.

What do you find the top 4 biggest challenges with buying properties at tax auctions? 

.- 3-4 units still puts you in the residential category- 5 or more units is commercial residential and most lenders will expect you to have experience and will generally have more restrictions on the lending process- A 10+ cap rate in the Boston area will be extremely challenging to find unless you are planning on a massive value add or redevelopment- No idea what your personal financial situation, but a 3 family in Worcester versus a 20 unit requires a very different upfront financial commitment.

I am out of state (in the navy) but looking to find a few partners and MF realtors (it has been a challenge).