At first, I assumed asbestos and maybe a small heating oil tank but since that structure had been torn down, it'd be a non-issue.

How can I make lemonade out of this lemon?

I don't do 0 down stuff and I am also looking for capital to do some rehab for value add and rent increase.Condo Details:-Current Value $260k-Rent $1875, (Dropped from $2375 from 3 years ago due to oil downturn in Houston)-Mortgage 15yr 3%, total mortgage payment inc HOA/Prop tax $2375-Remaining mortgage balance $130kI acknowledge this is a negative cash flow property. 

A few areas to stay away from include Crouch Mesa (major water supply problems) and the rougher neighborhood s in Farmington.If you are patient there are regular terrific bank owned properties and more to come (we call it the oil and gas bust).

The energy corridor probably has stabilized since oil jobs are starting to come back. but out S.E.

Then came the oil crash and IIRC the average house in Houston lost about 1/2 its value between 84-86.

@Hadar OrkibiWell I had looked at other cities in Texas like Midland- Odessa but don’t like their dependence on oil.

Came across this article from www.jenman.com.au about "The American Snake-Oil Show" -http://www.jenman.com.au/news_report.php?

We have houses in an oil patch in Texas, and lost tenants in the last downturn. 

Battery charger, turn fridge on before trips, Dump station, Concierge parking service, Tire/Oil/etc check, Big drive ways, electric in each unit, etc.Canopy, I have seen in Texas.