Without the address it is hard to say why the actual value is but here is a question to ask: if a home for example is worth say $85k with rents for example $850 per month but for the price you get a home with a great renovation, or you can buy the same house for say $65-$70k as it with some deferred repairs and majors only having half of their life left and slightly less on renovations: who would rather have it fully renovated at market value or get more equity but more repairs to come sooner than later? 

Here are the numbers:Purchase price - $210,000, with $4000 put in escrow by the sellers for repairsDown payment - 10% / $21,000Closing costs - $5000, about half in closing fee and half in pre-paids (taxes, insurance)Total cash out of pocket - $26,000Renovation costs - $23,000 ($4,000 paid from escrow), for above-mentioned work plus new central A/C and new electrical panel Furniture cost - $8,000. 

There are several taller office buildings going in a few miles away.  

I am having a great time in Wichita, KS in my first year and a half to two years of investing; we have taken an aggressive approach by investing in a low income high crime area near downtown Wichita.

This area is about 5 miles from downtown.

@Gregory Jelvik hey greg... always trust the local knowledge... however I stayed at two airbnbs this past winter in old P.. both within a quarter mile of that address...

I live about 30 miles north of Pittsburgh so I'd need rentals close by here in a good rental area.

Half the people on this site would kill to be in your situation, including me, but with one proviso, HAVING THE KNOWLEDGE AND EXPERIENCE THEY HAVE NOW.Experience is going to take time served at the school of hard knocks.

Half of my clients have bought from out of state, often through one of those programs, and I'm left doing the cleanup. 

Anything around downtown or even midtown(just a few miles west of downtown) are usually SFR’s built around 1920’s-1940’s.