You take major risks that there are issues like foundation damage, termite damage, electrical, etc. 

The major downside in my opinion is that if you paid $80K for the NPL and the home has a value of $150K, you will be charged by OSC for the $150K coverage. 

I have a duplex in California and one of the tenants lit the oven on fire last November... called the fire department, but there was no damage.

Interesting question though (I grew up near DC), housing affordability is definitely an issue in every major market.

In addition the local building departments have to sign off on the design etc. before it's submitted to utility company. 

I know the major industries currently employing residents and I know what industries are moving in/moving out of the area.

I thought both sounded high but its within 10 blocks of 2 major universities (Illinois State University/ Illinois Wesleyan) and from the research ive done, rent is very high around those schools.

Currently looking at 10 acres in Pueblo zoned industrial to get some major returns on it.

The majority of realtors live paycheck-to-paycheck.  

That is my major concern, my other is just the curb appeal.