The best performing neighborhoods tend to be a little higher in crime (risk vs. reward) and the nicer neighborhoods are going have a lot less, but be more expensive (you get what you pay for).Ultimately, you have to find the balance that you are comfortable with, and realize that even under the best circumstances in the nicest neighborhoods, nightmares can sometimes happen.

You'll get to see who the active players are, get their opinions about what's happening in the city, learn some of the issues and circumstances they are facing, and learn a lot.  

I planned on renovating and selling my house in a few more years, but because of the circumstances, I am considering just doing it now so I do not lose my house over $4,200!!! 

@Argin SimonianAlthough not the definitive answer you're looking for, I would say circumstances dictate how you market your properties.

@Greg Srader Here's how vesting will typically read:"John Smith, executor of the Estate of Mary Smith, deceased" The following language may be appropriate in some circumstances:"...

Due to circumstances of the sale there is no access to the property.

I would only buy sight unseen under certain circumstances.

Given your circumstances, investing in turnkey properties in the right markets probably makes sense for you.  

So make sure to speak with your lender in advance if that is an issue.The second caution is that you do not want to try and sneak in a bunch of pre-paid construction just to qualify those fees as you can only pay forward to the extent it is reasonable given the circumstances and the "normal" way things are done. 

That way if there are unforeseen issues, I can cover it and still make a good profit.8.)