I've watched family members play the equities game over the last 30+ years & we are WAY WAY ahead of anything they have ever achieved. 

We have been watching the trend.. some flips have gone smoothly i.e. remodeled in 3-4 months while others take 1+ year and involve multiple stop order notices.

Also, you'll have to watch the maintenance on the homes as they are made with materials that are less costly in general.

@Joseph Mazuz I forgot to say that you need to watch out for anybody selling you anything in life, especially when you're out of state.

Anyone offering rates that are significantly low than everything you see around, I'd watch out.

You can read all the books you want, listen to all the gurus, watch all the videos of "experts", but until you are knee deep in your own deal, you will never feel what it feels to be an investor.

I'd like to keep a lookout so when I have enough saved to buy one later this year I'm ready and can keep watch on pricing/value.

So, what we thought would be 7 human beings in a 4 bedroom  (a couple and their 5 children) has now turned into ten human beings stuffed  into a 4 bedroom unit, with seven children in two bedrooms.I can just see this when we get to court - we'll be considered monsters, trying to kick out an old lady with a walker and oxygen. 

If it ever goes to court and the seller says the transaction was fraudulent ...how does it look that you bought the house at a 50% discount, without exposing it to the market, and flipped it for big money at the expense of the Little Old Lady from Pasadena?   

The lady is going through a divorce and wants to get rid of the property.The properties in the area are going for 135k to 185k.