While I do agree that is (usually) inadvisable to invest in a property with negative cash flow, and to thereby “bet” on the appreciation, I do believe that considering the appreciation potential is an integral part of investing.

You bet it is, the degree of risk changes for both parties, as a buyer you might not get it done in time, for the seller, it a last hope deal. 

So I'm taking the bet on myself, now.

I bet over 80% who send out first batch and fail never do another ... as for us Californians its like those that got rich in the gold mining days.. they were the one's selling the pots and pans  :)  best of luck 

If you want a crystal ball, understanding price action in leading indicators like the stock market will be your best bet.

Finally, unless the town is very close to Charleston, SC I'd bet you're not going to see a huge turnaround (which is what you'd need) in anything less than 10+ years (or ever?)

From what I've learned, wholesaling looks to be my best bet for starting off as my funds low.

I bet if you find a deal, it won't be so hard getting the financing. 

I have friends that are still upside down big in Jax Beach on properties from the crash so I would not bet on appreciation at all.

Many times it is lower or non existent, you are betting on future values not cash flow.