I live in Aurora CO and have invested in NW Denver - currently have a triplex in the Berkeley neighborhood.

Truth is, only the bad neighborhoods or rural areas are going to have that kind of property unless there was a fire or storm damage.

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.