That being said the market is hot everywhere these days and you likely will have trouble finding deep value without being willing to take on a big project. 

We don't know how deep this recession is going to be or how tight it cuts.

My connections to California are deep, and I was from Southern California.The prices of housing are too expensive. 

Am I seeing an opportunity to breathe a little life into the real estate market or should I be weary of just how well an "aesthetically pleasing" property will perform when estimating the ARV? 

Having your home professionally deep-cleaned for $250 is much cheaper than having tenants not pay their rent.

Do you not perform a deep clean when the tenant moves out anyway, regardless how clean they leave it?

what is the income/loss split...If you really want to dive into the deep end.. 

Obviously, you will follow a strict and conservative underwriting guideline so that you don't overpay but waiting should never be a strategy.So, I won't hold my breath if I were you.

Plus, the budget of $30k might easily go up to $50k or more because with foundation, drain lines, and driveways to rebuild, you can't tell what you will find until after construction starts, by that time you are already knee-deep and can't come out. 

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities and City of Detroit Neighborhoods:https://www.biggerpockets.com/...