Sometimes all that is required to bring everything into peak operating condition is some fairly minor repair work.

Loan limits...It sounds like FHA and conventional will have rising limits this year.Value...Bakersfield prices are still well below their previous peak.  

I bought at the peak in 2006, immediately became underwater on my mortgage with the rest of America after the crash.

I can just relay to the OP that A) he'll probably want better duplexes than what $80k can buy, even in our area, and B) yes, people successfully cash flow in our area.Killeen may not be the perfect market, but as an agent, I see and hear from many investors who are asking about our area, driven away from all the other Texas markets where deals and numbers simply aren't there except for the established guys whose marketing machines are running full tilt.

And outside of peak times you'll likely get (if you're lucky) 50% occupancy.

I'm looking for a new niche and real estate investment has always peaked my interest, but I have never really actively pursued this interest until now.  

3)  many condos have surpassed the 2007 peak but not co-op. so better deals on Co-op than Condo if they allow sublease? 

I can estimate things like siding, roof, grading by driving by, but most of the time I can't peak inside the houses.How do you do it?

I am not interested in investing in any REIT or investment that blackrock is selling, more so interested in people's thoughts that the housing market has peaked again.

Some questions I have are:  I can see how how one could get a sneak peak at a house that is up for auction to see what kind of condition it's in but, how would you do that with a condo in a high rise secured building?