In addition, the federal government at the time would even give away land for free.  

I'm not going to bet on appreciation, but that doesn't mean that I want to cut myself off from it's possibility of happening.

In addition, even if they did use meth they may not have done it in the property. 

other people's money or opm would be a good bet.

In addition, for the ones that do make it to the market, owner-occupants face stiff competition from the plethora of investors in the NYC area. 

That way, if anything major is discovered, you'll have time to assess the situation and obtain additional inspections from other specialists as necessary.

The way we look at it, if hard money can enable us to purchase additional properties more easily or with less of our own cash, then it can make sense.At this time we are actively looking for our third buy/hold.

Because everything has to be done at "arms length" this could be your best bet, and an opportunity to invest outside your area.Do some research on turn-key providers, the markets that make sense, and if the entire strategy works for you.Consult with your CPA; in guessing it would be far easier to keep your accounts separate, and each one holds an entire property within (not splitting properties, in other words.)If the $50k homes aren't to your liking, you can always make more contributions until you've got enough for an $80k home...

It was completely rehabbed with an additional  $150k.  

It was originally a duplex, but additional rooms were added.