(understanding that cashflow is extremely hard to come by in general)

That isn't to say it's impossible, just extremely hard to find someone to sell you a property for 70% of value that is in perfect condition.

I know Allentown and its government is trying extremely hard to revitalize that area.

We have extremely low inventory in my little area (40,000) as well.  

One could argue each deal is a learning experience and to require every issue addressed before entering the contract is an extremely limiting mindset.  

The entire region has an extremely low number of these properties.We have a monthly Meetup in Gaithersburg of BP members.

If you don't like the look or are extremely cautious you can get those metal radiator covers.

Yes, you can spend money on extensive renovations if you don't want to realize that income, or some version of that, and it may be advantageous to some very wealthy people with multiple healthy income streams and properties, but you should be extremely suspicious of that.

Extremely responsive.

However my worry is that managing properties from afar will be extremely difficult.I've been looking at FHA loans, but the MIP payment really kills the deal.