My first deals were here, but I now have property to the north and am about to acquire my first properties in northern Illinois.I enjoy the rehabilitation of depressed real estate (like therapy for me - seriously!)

Before Upgrade appraisal was around 162K new appraisal is 199K in a depressed South Louisiana economy.Would like to flip my first house in the next six month so I have seed money for the next after successful second flip I would start investing for the long haul in rentals.I can find and analyze the properties also have a good business friend to help with the analysis of properties.

Sometimes its very depressing but keep your head up. 

Until those folks that live work and want to buy in that area can change their behavior and their credit they won't be buying no matter how many feel good articles are written.I think most of your rentals were in the 39204 area which is much more depressed that the houses I own  in 39212.

It's a pretty depressed area, there isn't much for industry or jobs I don't think.

Though there are legitimate concerns that this complex will push gentrification, I think it will add to the vibrancy of the Hilltop neighborhood.As a new investor, I'm not sure if the addition of this complex will push up rents in the area by increasing average rents and desirability, or depress them because it is adding a significant number of new units, thus decreasing the demand on other units.  

It's like the down cycle in a Manic-depressive.

I guess this all depends upon the area being spoken of combined with the bedrooms, ect.At the lower end of income and not qualifying any other way, they will probably have a lower credit score, which will increase the points paid from your 5.5 to at least 7.5 which changes that payment (without taxes and ins) to 300.00 plus your figures for taxes and ins (which I think are a little low) would make the total mortgage at least 480.00Things in depressed areas rent for 250 to 500 depending on bedrooms.

They get depressed, their grades fall and bascially, such properties are the root for many social problems.

Returns on new construction are soft, and most value add deals are in the tougher neighborhoods which depress after reno rents.