Here in MD, Block M Investments will do a 5 year loan at 16%.

One zone in midtown is ON Biscayne, 3 blocks from the Bay, and runs right between the new construction on 3 sides.

Currently tenants have to walk a couple blocks to a laundry mat.

A home I was interested in purchasing  was a few blocks from the leasing office.Working at the property office also gave me an inside look at the neighborhood.

I have this same stumbling block - theoretically I know I can fund a deal if I got my numbers right and it is a sweet deal, but you never really know 100% until you are ready to go to the closing table. 

@Ashley Martin - those are all blanket stats and good to know, but markets are different neighborhood to neighborhood and sometimes block to block. 

We all know the area is pretty rough with alot of drug users. i found out Baltimore is a block by block city so things can change in a blink of an eyei knew i would rehab the whole thing once bought and decided to finish basement to make it a 3bed/2bath and change the 45 degree stairs to align with one wall straight up.i set a budget of $60k ( some people say im crazy lol ) and plan on using a remodel loan for it.

I built half my portfolio in the first two years after I left my full time job to pursue real estate sales, which meant I had no W2 and wasn’t eligible for typical bank financing at the time... just remember with that type of thing, it’s a hurdle, not a road block.

slumlord is a pretty harsh term, however, let's say-Its a rough neighborhood (some spray paint and busted windows on various bldgs)-A bunch of 2-4plexes on the block-the living conditions of current tenants is bad (partial electricity, no hot water, holes in windows and walls, rats)-some visible mold on a couple walls-doesn't seem to have had any management/maintenance at allOwner hasn't been able to sell for a few years.   

You end up screwing yourselves over so bad and there are tax professionals out there that will charge you an absolute boatload of money to get it fixed.There are an equal number of professionals who will help you file correctly for something way less than a boatload.I have seen SO many F'd up tax returns this year that were completed with TurboTax or by "tax preparers" at Block or Liberty or taxshopinthestripmall and it's just really frustrating to watch people do their taxes with a shotgun.Do it right or don't do it at all.