Provide a level of quality that may attract the better quality of tenants, but don't overdo it.

Of course, to compound this analysis, you can have a modest area that actually has certain sections that are seeing growth due to proximity to education, transportation, industry, or some other attraction like rivers and recreation.

If it doesn't make sense, find another partner if possible.You're right, 100% of zero is not attractive.

Unless it's rehabbed correctly, they aren't as attractive as newer homes, and will sit vacant longer. 

You will get an opinion that makes the property more attractive and promotes the seller's interest.  

That is one of the attractions.

People attract drama and problems into their life by doing stupid things like this.

Only after a couple of deals fell through did it start looking more attractive).Asking price originally was $250,000.

My big picture view is that metros reach a 'critical mass' point where they can attract the 'right' kind of intellectual capital and human resources (workers etc) that build the base of a solid regional economy. 

It's a nice thing when it happens, but it's not a methodology upon which you can readily launch your business.If  you have an established track record and are willing to take a small slice of the pie, you could probably attract private money willing to partner with you.