Would have to do the math backwards by figuring out the build cost and potential value when the project is completed .

Can you sense the potential pulsating through the city streets?

In our case we wouldn't have any value seasoning on DSCR so as soon as you do the repairs, we can potentially use that higher value to get you cash out. 

So someone who is looking purely to maximize potential return (and has unlimited time) is unlikely to find this a good fit.Turnkey operators are kind of in-between.

I have tried some Facebook groups down there and they are ALL (so far) nothing but spam and scams, or people advertising to clean cars, etc. 

There is quite a bit to learn so I would say get moving - read, go to meetings, consider working with someone who can help you jump the learning curve, set meetings with potential team members.

A SFH with a potential separate basement entrance that you Airbnb/STR.

Fortunately they were both my bank's liens but they were a potential nightmare to fix. 

Plus, think of potential additional cashflow for the future when you refinance.

So if numbers pencil similarly for a deal in a vacation market as for an urban market, and potentially even slightly worse, it could still be worth investing in said vacation market instead of said urban market.