Even a distressed dump of a house located in a warzones in the worst inner-cities don't lose value over 5+ year horizons.

Buy a bank foreclosure in a distressed town that has a large industry. 

@Andrew Lopez, in MANY cases for the numbers on a BRRRR deal to work out the property needs to be very distressed and often not eligible for a traditional loan for the initial purchase.

You can find distressed off-market duplexes under 120k and SFH under 80k in B to C-class areas.

That includes recent sales as well as currently listed properties in the direct vicinity.Given there are so many distressed sales in Detroit on the same blocks as flips and nicely renovated homes, the Zestimate simply can't parse through the volatility of prices. 

I would expand your search radius and what you are looking at, meaning not only location but more distressed properties as well.

You will typically find a lot of distressed properties in Ft Myers due to the age of the properties and the economic diversity in the city.

This new Builds are offering tons of incentives to home buyers, and sometimes will work out better for buyers than trying to buy a property that is distressed.

Lenders, agents, wholesalers, brokers, contractors, distressed sellers, capital sources, gurus, internet forums on real estate, other investors. 

I have an investor- friendly agent that have homes (not distressed) that isn't on the MLS.