Personally I plan to have most of my after-tax investments in Real Estate since one of the appeals of Real Estate is the tax treatment. 

In order for them to be appealing to this specific market (city dwellers, deeper pockets, a specific design aesthetic), we could put in about $1k in cosmetic design-related improvements and about a week of work.

The best way to force appreciate a home is through renovations in the kitchen, curb appeal (front and back landscaping), bathrooms, paint (interior and exterior), and flooring.

From what I'm seeing, there are opportunities still available although but get to know the areas of town...some are clearly more appealing to buyers than others.

ARV $105,000 reflects the needed repairs to enhance the property condition and appeal to standard market.  

Gurus love to pitch the idea because it is appealing but I have been doing this 10 years and i wouldn't even waste my time trying. 

Find a property that is NOT LISTED, that has potential of profit for the investor and it is appealing,  get it under contract, with the terms about your "finders" or "assignment fee".

I would only purchase them at a price that would appeal to another investor.That said,  I would may contacts with local banks and identify one that can finance with a reasonable down payment to direct your potential buyers to

Are taxes inflated, could they be appealed to be lowered?  

My 1.25 hour commute from Northridge to Venice Beach is perfect for listening to a couple of these a day.I'm currently not sure which type of investment I want to move towards but residential looks more appealing that commercial at this time.