I was out in Wheaties neighborhood yesterday (Broomfield) for the NRBA conference...

I also use the newspaper and craigslist to my advantage and have a couple people looking out for me.

Here's the basics on the house:--4000 SQFT (including 1000 SQFT finished basement--6yr old central unit and unknown age second unit--excellent foundation with no to very minimal settling--split level with large bedrooms and large bathrooms--1.5 acres lot in a good neighborhood with a few million dollar homes a couple of streets over--nice but neglected landscaping--built in late '70sFannie Mae wants $179k but it needs everything on the inside.

Sometimes called the rust belt or other terms that imply the economy boom times are a distant memory.Note that many of the communities that have shrinking populations still have some great neighborhoods.

The property is 1.5 miles from Downtown Houston in a "transition" neighborhood.

Hopefully one day I can return the favor.My Business plan:Find Value properties within 2 miles of Downtown Houston (in neighborhoods that are in the beginning stages of gentrification).

I researched this neighborhood some more and it is full of REOs being flipped.

The attic is semi completed, just needs heat to be a 4th) Location is fair....not a bda neighborhood, just on a high traffic street, and has a 3 car garage which 2 spots are deeded to the house.

I'm finding that renters have more rights than landlords.Here's my scenario: Beautiful house, bad houses around me but neighborhood is climbing up the ladder for the better.

Even I think I'm nuts, but the lot adjoins a property I already own and in it's current condition the vacant, vandalized, dilapidated house needing rehab is affecting not only my property value but the neighborhood.