The new development was 316 condos, 64 townhomes, 16 single family, underground parking, club house, water retention, and all of the streets, landscaping etc. 

So answer your question, it depends lol Gene that's a tad high for average build quality at least for us.. we are more in the 100 to 110 a foot.. which includes hardy and slab granite custom cabinets engineer floors and full wrap windows and front sprinklered land scape and fence.. 

Demographics? 

Re-landscaped the front and backyard, including adding a patio and waterfall feature.

Nice furniture and landscaping etc.  

Home ConditionI was able to tour the home and observed the followingOutside needs paintGarage door needs paint or replacementElectrical panel needs to be updated Landscaping is Meh but lawn is manicured Roof needs replacedInterior needs full paintBathrooms do not need to be updatedHVAC is 2 years old with warranty Does not appear to have any leaks based on ceilingMany different floor types from room to room Windows are old but do not appear to be leaking observed one small area of roof rot by the fascia by the porch Front door needs replacedPopcorn ceiling Some drywall repairKitchen cabinets painted (not very well) Countertops Formica in good conditionAppliances need to be replaced NumbersHome is a 3/2 1500sq feet on 1/4 acre built in the 60s I would guess Comps in the neighborhood are high $180s but our market is declining somewhat ( I would imagine ARV at the time of completion may be $165k  due to size and the neighborhood would be a solid C maybe low BOwner currently owes the bank $124kI am estimating rehab costs to range from $30k-$40k (if I do some of the work myself it would be closer to $30k I thinkStrategies Flip - I think the margins are too low even at the high end of current sales at 180kBRR - I don’t think I can get my money back out if I refinance at 70%Buy and Hold -  I think current market rents would be $1375-1450 cash flow about $250 if I don’t go full rehab and just go rent ready and self manageI am thinking that it is not a great deal with any of the common strategies listed above but it seems at that price there may be something I am not thinking of .

In briefly looking at the demographics for Merrill Park, the neighborhood appears lower-income with lower-value homes.

Because if I don't, then the world of real estate will.You can definitely invest successfully out of state but the likelihood of succeeding is much lower than if you invest closer to where you are based (This is just my opinion).My best tip for anyone buying out of state would be to spend more time doing due diligence on the people they are looking to work with rather then the stats/demographics of a particular area.It's "the people" that will either make or break your investments.Also, buy a plane ticket and visit the area multiple times if need be.Thanks and I wish you much success with your endeavorsps.

Prior to selling it a few months ago we renovated with a new kitchen, flooring, paint and landscaping.

There's landscaping so it's not visible to tenants.