Mark,You may find your best way to answer your question is by becoming a neighborhood expert.

Are properties in that price range selling quickly in that neighborhood?

There are some older neighborhoods where there may be some deals though.

I already know the neighborhoods and can count many people I could call if a given problem came up.Anyways, I thought I would introduce myself.

And critical one that should be considered by all at any experience level.I believe in becoming a neighborhood expert prior to any purchase consideration.My mentors and experience have taught me to conduct thorough research and know more about the property, neighborhood, and target market prior to any purchase consideration.

The seller or real estate agent may know something you are overlooking.One this is for sure, if you do not know more about the properties, neighborhood, and target market than anyone (including the seller); and be accurate in predicting the realistic future that is not based upon any blue sky assumptions, this could become much more of a challenge than a reward.Best of luck.

http://www.redfin.com/CA/Los-Angeles/3170-Farnsworth-Ave-90032/home/6952924This is a 5 bedroom newly remodeled duplex in a quiet neighborhood with laundry hookups in both units.

.- The city offers a neighborhood facade program where they pay 66% of exterior enhancements up to $45kWith that being said, did I do ok?

Learn what houses are selling for in what neighborhoods, learn what upgrades sell houses fastest.

If your margins are tight and your market changes or if your development is too unique for you neighborhood that there are no comparables, you could stand to get into trouble.Goo luck.