The problem is that homes within that mile radius similar to my subject property haven't been selling recently.

A gentleman who lives a mile from our property has both for sale.

And sometimes the devils advocate in me starts to wonder if 99.9% think one way it is often the chance to succeed in a "contrarian" strategy, so to speak.Although I do undoubtedly believe that each and every ghetto is being eyed by public officials and their policies; The only point you made that i might disagree with is the fact that even if you bulldozed a square mile of the hood - those individuals will have to move somewhere.

http://www.reuters.com/article/idUSTRE66U0DC20100731

Yea Mexico you got it right, One mile from Auga Preita Mexico at Douglas U.S. border.Lived in Calif until 2 years ago.Nothing special other than forced economics lead to dump every thing before suffering any losses.

A missing digit will cost you even if your 2000 miles away.

Some of thier best customers are probably LLCs.There is a difference in a small or regional bank and a bank that is governed from 1,000 miles away.

These folks may not really even know they want such a place because they haven't been approached with the idea.So... how do I market to a boat owner who already pays for a slip somewhere and may live within 70 miles of where their bopat is?

I usually use a 7% vacancy loss, although currently the area has near 100% occupancy because the economy is doing comparatively well with respect to the nation.I have a 4-unit just a few blocks away from this one and 6 other properties within 2 miles.

If your home is further than 75 miles away and you can afford to put down 10%, your Debt to Income ratios are inline, and decent credit than this is your best bet.