Older buyers over the age of 51 years old were the only group that sought out an agent first. 

I know this is an older post but I am an agent in the area and would be happy to help if you are still looking! 

This seems like a population that could benefit from living in rental mobile home parks.Seems like you guys could set up some "Shabby" trailers on cheap vacant land somewhere at the edge of town (cheap taxes) and get the bus route to go out there to take them to work and shopping and fill a need.Sometimes people in Texas give older mobile homes away for the hauling.At $35,750 a year that's $3,000 a month Gross (with 3 deductions), they could afford to rent cheap trailers without Section-8.All you'd need is septic, electric and propane out there.A shabby rented mobile home at the edge of town is a lot better than living in the streets (supply demand),And it might cash flow attractively (with Class-D management issues of course).Just my 2 cents on this.Good Luck!

Also, most lenders require a 6-month seasoning period before they will refi against a new appraisal.A $50k rehab is going to take much longer than 1 month. 3 to 4 at least.

😎I recently saw 5 Flights Up. ehhh, it was just OK, but the entire movie did center around an older couple and their attempts to sell a NY property that they lived in for a very long time.

The older stuff is usually more reliable.

This is a typical "seasoning period" required by most lenders.Repairs and CapEx will probably be closer to 15% of GSR all in.You're not accounting for insurance.What about water/sewer or shared utilities?

What do you ladies and gentleman think?

Obviously the older the building, the more risk it has and the sooner I'll have to worry about CapEx expenses.

And if the home is older get some build code/law ordinance coverage with your policy which is very cheap to add.