There is a neighborhood representative named in the amendment that is authorized to represent the property owners.

I will chime in towards J Scott' s reply...I recall homes in New Orleans after Katrina were condemed alng with the whole neighborhood making it impossible to insure after the rehabs.

Buying properties in Worthless/undesireable/unsafe neighborhoods.6.

It is a small little neighborhood.

Spain currently has a 20%+ unemployment rate so vacancy rate needs to be confirmed in your neighborhood based on how fast units rent out but 1 month vacancy rate for example is a good start. it could be 2 months average vacancy rate.

I've done a bit of driving around to become familiar with my neighborhood & surrounding areas.

I use this example to show you what I mean in regards to numbers.The neighborhood is stabilized and there has not been a murder within a mile of the property in many years.

If you have 30 - 50k cash ther are some foreclosures that are unbelievable deals, and they are in Middle to Upper class neighborhoods.

Obviously, individual neighborhoods will have different rates of change, but this is a good general overview of what's been happening here.

Keep $60 000 in a savings account to cover unexpected costs and expenses while you gain a little more experience about real estate investing.Secondly, try to purchase a fourplex in a "good" neighborhood for around $150 000.