I am not talking about rural areas (like where some of the DGs are being built) but small towns or the periphery of mid-sized towns where there might be 10-20K population in the the 5-mile radius. 

@Mayer M.What size?

I was shocked my coworker got one for his property in a decent-sized town that is only 45 minutes outside of New Orleans. 

@John Chason I have owned multiple properties of similar size in both asset classes. 

I doubt they would be selling a lot that size for such a low price if it could be sub-divided.  

All of what you mentioned is not a problem with the exception for employment.

Make sure you are digging into- The market- Education in the area- Demographics- Job Diversity- Major employers- What class of building is it?

@Eric @Eric Michaels I've yet to contact a meth remediation company, but it seems it can either be a cleaning job (around 5-10k) or a complete gut (around 10-25k +) depending on the size of the property.

Would I add up all bedrooms(5) and bathrooms(3) and look at a single family home that's the same size?

Do you know what size site you want?