Yeah and if the restaurant industry got rid of all those pesky mom and pop shops and every restaurant was like McDonalds or Applebees the dining customers would be so much better conditioned to accept mediocrity.I know you believe that as a landlord I owe my time and energy to the "charity" of the "Landlord community" to try and make it better.

Let them know what your expectations are. also let them know how you will handle things like rent increases and late charges.

You can also focus on NC, GA, TX, AZ, NV, VA, MO to just name a few other Non-judicial states.Don't be scared of judicial states because often times, values will increase on your assets while you are going through the foreclosure process and you'll be in a better deal by the end.  

I cannot comment on the area, the condition, the tenant's quality, etc. as there's no info about it.So it is really a good deal is based on the numbers as well as other factors. 

Home prices increased the most in Oregon (11.7 percent), Washington (10.3 percent), Colorado (10.2 percent), Florida (10.0 percent) and Nevada (9.6 percent).

LOLI don't know much about market cycles (I need to learn) but I feel that something like RE can't keep increasing in prices at current rates while the rest of the economy is going at a slower pace.

The NOI will increase due to increased rents.

Another advantage of higher priced homes, is the power of leverage and the tenant paying off a higher amount of principal payments each month which increases your equity at much higher rates than for cheap homes

When building new, it is possible to design and build houses, and larger buildings, with a modest increase in up-front capital (10 - 15%) costs in comparison to the "normal/typical" minimum code build, which have resulting energy consumption 70%+ lower.  

So, based on these numbers, it's a good deal if rehab can be done below $40K.As far as financing, a conventional lender won't do it because of the general house condition and a hard money lender won't do it because of QCD that is not insurable.