The area and houses around just looks more run down and cheap. 

- Actively employed as an EHS Engineer (still enjoy my work, I think!)

@Jason JonesI have to step in here and state that a Rollover as Business Startup (ROBS) plan does not align with your situation as you have described it at all.Those plans are for actively running a business, not holding passive income properties.This is a complex and expensive solution, and a great tool for certain situations and significant amounts of capital.  

Louisiana and we recently experienced massive flooring in the three parishes where I run my wholesaling business. 

@Michael Clevenger just make sure that if you follow @Brandon Ingegneri suggestion you find an Investor Friendly Title company that can do this for you and not mess up the deal with the FHA loan, what Brandon says can be done and you recover your money + interest in the long run.

A traditional loan won't work for #1, and banks run away from #2 (mostly). 

Good luck and maybe we will run into each other if you decide to attend one of the meetings.

However it does run more risks of course once you buy it you own it.. as oppossed to buying already rehabbed and tenanted.. then its just making sure you do your home inspections etc etc.I know TK operators that do some pre rehab.. and do it well.. but they are not nearly as prevelant as the standard model now of rehabbed and tenanted. the other thing is a rehab and tenanted you can leverage into it day one.. pre rehab as stated is generally all cash then refi later to pull your cash out.

one of my vendors is going to make a run in Inglewood. he has a specific Niche'

Although I haven't heard of many banks calling loans due (at this time at least), you could run into trouble in the future as interest rates start moving upward.