(Apologies for the partial hijack, but it seems related.)

there may be relatively minor problems with the property or there could be a major damage to vital components.From the properties that I've seen there is also wide disparity on what is insured/uninsured by HUD.

I will have to talk with my non-investor relatives LOL

I can relate to you as a builder's son as well.

The new management told him to hit the streets because he didn't have a degree in a banking related major.

He has a seminar called "Winning The Property Wars" and it seems to relate to his TV show on the Discovery Channel that involves real estate auctions.

Any advice related to both of these items would be greatly appreciated.If it helps any, I am located in Colorado, and hope to do business here.

That's part of the reason why rents are relatively higher than other areas.

It's all relative.

I still run away from historic deals for the same reasons you and others have pointed out - everything costs more, which equates to a relatively low return on investment.