Unless you find the next Microsoft or Apple (and wait 30 years) you can't do that with any other medium!

I figured $2500 would be a happy medium.

There is a happy medium that can be achieved.

@Josh MartinIf you want a rough estimate without bringing a contractor use the 10,20,30 per square feet rule. 10 being low end, 20 medium, 30 high end, if it needs a full rehab top to bottom.

However, it is my belief that the bulk of the areas in those neighborhoods will not be great medium term bets. 

Anyone who has 5 or more properties (or 10 in some cases) is going to a local lender (or a HML who does medium term financing) to get a loan because they no longer meet Fannie or Freddie guidelines and can't get a "traditional" loan.

A ~%7 cap-rate is about average where I'm from for a medium risk property.That being said OP.

.  :-( there is a happy medium we have been putting clients in this same stage of their investing life into mid term debt  first position at 50 to 65% ARV so plenty of equity cushion and returns would be triple what your talking about with very mitigated to limited risk of say HML to fix and flippers  See patch of lands foreclosure issues.. 

Examinations can cost thousands of dollars a day and a small bank will get billed for at least 3 days, medium size types a two week examination is common, large banks may have examiners underfoot for weeks.

I'm new to BP but can already tell just from Analytics that I'm wasting money on AdWords, FB, LinkedIn, etc. bc BP is driving qualified leads to my site/company instead of tire kickers on other advertising mediums.