Looking at Wichita, It seems like many neighborhoods have extremely high vacancy with 20%+ in many.

While the property is in a smaller town, it’s relatively close to a larger city, which I think adds a lot of potential for attracting both short-term guests and long-term tenants.The motel has fewer than 16 rooms, and the nightly rates are extremely competitive for the area.

Beyond something of extreme nature I find most things are repairable, especially if it’s a rental.

The most common asset type was commercial multis 7-10 units. 

What is more common is someone saying they have everything, calling it "easy" and it's all just BS sales pitch.

Shortly after closing, I discovered that the roof above my unit (a common area under the HOA's responsibility) was severely damaged from a past storm.

The most common is leaning on your agent for their expert advice.

Quote from @Nathan Gesner: Unkempt lawns, trashy or broken down vehicles, mattresses and trash on empty lots, boarded up houses, bars on windows, dealers and hookers on the corners, the lack of stores or gas stations, occupied properties are dilapidated, etc.Or when Google maps shows stuff like this: If those are drug zombies, as they appear to be, that's an "F" class neighborhood where nobody pays rent and structure burnouts are common.

I’ve recently finished reading J Scott’s “The Book On Flipping Houses” and found it to be extremely helpful in understanding most aspects of a fix and flip project.

Seems like a common scenario for some of the active military we've helped in the Tucson area recently, feel free to reach out if you have any questions!