I drove to Birmingham today and I saw a lot of vacant and abandoned houses in the east lake area.

Boards on windows to property right and left=FEverything in a two block radius looks rented or owned, but three blocks over a few houses have boarded up windows or look abandoned=DMost everything looks occupied in a 4 or 5 block radius and you see several work trucks in the driveway or evidence blue collar folks live in many of the houses=CI don‘t buy A or B properties, so I can‘t help there.

A case could likely be made for considering making a larger down payment with a self-directed IRA or 401k as opposed to abandoning the account, getting hit with taxes and penalties immediately, and losing its tax advantages moving forward.

Other issues i see are: termite damage, no footings on foundations, crumbling mortar in brick, underground oil tanks, abandoned cesspools, settling, unexpected finds behind walls, knob and tub, galvanized water pipes, lead water mains, orangeburg sewers. 

Almost everyone agrees with his first 3 steps which is where it sounds like you abandoned his philosophy just like the rest of us.  

I chose to do this project for financial reasons, and I left feeling satisfied that I also helped to stabilize a neighborhood (where the housing stock is largely abandoned), as incremental as my effect may be.

In Cali we've always found some pretty good investment opps after a major earthquake, flood or fire as so many folks just abandon their properties because they were underwater, under or even un insured.

YES in Chicago if the property is abandoned it will get demolished by the city due to violations.

I think my main problem is I don't WANT to go to live in a super rural town and abandon a lifework of connections and move backwards in a sense, but simply am beginning to feel its the only option.

The land was part of a larger farm and was abandoned for about 15 years prior to us obtaining it.