Questions:Asking price 177,500 in a neighborhood where many houses go for more, but many have a pool, this does not. 4 small Bedrooms, (not a major problem) and the neighborhood is generally well kept.

should i look at a neighborhood and then try to find s house?

We have had a few investors invest in our neighborhoods at the advice of an unscrupulous realtor who also was to be the property manager.

I know the term safe is a relatively subjective term when it comes to real estate but I am talking more along the line of what neighborhood/area can one stand to make a fairly significant gain with a 15-25K cosmetic rehab/update?

Maybe you should explore other ravenues.Also - I was looking at lots of multifams as well and found almost nothing would cash flow, until I started looking at low end neighborhoods.

I understand your frustration but have you looked to see on average how long it takes to sell a house in your neighborhood...the other possibility is that the price is too high...those are the first two things I would look at.

It's in a bad neighborhood.

And you go out and buy a old dump of a house but in a nice neighborhood.

So, I drove around the neighborhood looking for other homes for sale hoping to get a price range.

NO EXCEPTIONS.The house has a very high efficiencey A/C, extra attic insulation and solar reflecting screens on the windows to keep YOUR utility bills lower than the neighborhood average!