Could be graffiti, gang signs, boarded up houses, loose dogs, undesirable neighbors (for example if people are out on their porches and look less than appealing or are outside screaming and fighting), lots of trash all over, a bunch of ancient vehicles, a nearby business or something that omits a bad odor, etc.

PS dont mind the language as it sounds like ancient FDR speak, go for the VALUE in the words.  

And with the exception of the ancient but functional furnace in the main house, I don't see much reason to put off repairs- so I wouldn't lose much to go ahead and do a full rehab all at once, and have a better property from the word go. 

Even that sounds like 'Greek' to me.

I am Greek, so I probably know a bit more on this than others.

Taken together the retirement piece of things has been our most powerful tool for real estate liquidity and I'm still in my 40s (barely, but still, not ancient :)  But this only works (alert, incredibly obvious point ahead) if there is money in the account. 

I gave him all the numbers and just wrote a check... my numbers in this example were my understanding, not actually whats on my returns as it was greek to me :) Thats why I 'm trying to understand. 

A house with a bad old design like that screams that other issues are likely like terrible wiring, an ancient electric panel, aluminum wires, asbestos, lead paint, bad plumbing, and a creepy Norman Bate-style basement.