Comps are on same street with in 3 months.

Is this a single family house with a typical garage door that is up a driveway and offset from the public street a ways?

Is it on a good street, desirable floorplan etc. 

Come to Birmingham and see the investment before it's purchased...that way you know the streets and better understand the area and neighborhood you're buying in.  

@Mark Allen  average person does not have the street creds to do as you delianted above.and its HUGELY risky to invest like this with beginner sponosrs.. they have no skin in the game they usually have the opposite of deep pockets.. and if it goes bad they move on..

My motives are I like a good challenge, altruistic, and to capture forced appreciation through increased rent, decreased operating costs, and my exit strategy is to sell the building to either the local university OR the energy company right across the street.

The city, although it suffered during the recession, has picked back up nicely and is becoming more and more vibrant.

I've said No every time except one and it was to a lady with a fantastic unit on a popular street in Portland. 

However, dededo is patchy...you kind of need to look at it street by street or cul-de-sac by cul-de-sac. 

I am contemplating doing an elevation survey and possibly a LOMA since the flood zone starts in the middle of the street --literally about 10-15 yards from the front door.