With an 800 ft deep double lot & a huge barn in disrepair, it had two 3 bed/2 bath units but in pre '70's disrepair.I watched it drop to $69,900 & sell subject to financing which I knew it wouldn't pass.

A Foreclosure on the other hand will “clean out” most of the potential title issues.In general, the Hard Money/Private Lenders on the panel all said they were looking for borrowers who could PERFORM.

How can I go about finding a new one, that can do handyman work (minor plumbing issues, basic repairs, clean up etc).  

Look at the big picture before you dive too deep into the forums.  

It's nice only about two blocks deep from the river and then there are vacant $10,000 houses.  

As I am starting with a clean slate, how would you all attack my situation if you were in my shoes? 

This step ensures that the title work has been done and both the borrower and you have clean title.6) Recording of the deed.If the funds are being loaned for construction, I would lend the money in draws, upon completion of phases.

One of my wife's uncles was in charge of one of the properties which is zoned for commercial/residential, it is a 1708 Sqf office space/small warehouse on .36 acre lot.Which with some research it can be split into 2 lots.He let the property go to the dump, needs a new metal roof, and gutted, replace plumbing/bathroom, replace electrical etc...Now my wife’s Aunt is in charge of the estate and she was the one who approached me.She said they will "sell" me the property for $30K (estimates from Real estate agent say property is worth $43-$53K in current condition) Which then I could clean the property up and try to resell with the improvements.Now if I did replace the roof make the inside look nice and clean the overgrown landscaping I was told (real estate agent) it could get about $60K, but there are back taxes and liens on the property as well.Plus closing cost for when I sell it, I have run the numbers and it seems that I would MAYBE make $3000-$9000 conservatively.But I am real concerned over the fact that it is used as an office/commercial, and wouldn't this limit buyers?

From what I have heard and it makes sense if you invest in an area that is being cleaned up people will move there for cheap housing, hipster types will build businesses and it will be good as long as you stay in that area and have some plan for keeping crime out.

Specialized skill in solving unique problems will set you apart from the run of the mill investment strategies and formulas.This a people business and a problem solving business, not a "real estate supermarket" where you merely pluck properties of the shelf looking for the lowest prices, highest yields, and comparison shop like going to Walmart or Costco.My personal preference after 20+ years of investing is that I would much rather drive a 2-3 hr radius digging deep for opportunity than hopping on a plane for 3 hrs one way, spending a week in a hotel and buying off the shelf.