I made an offer on a MFH foreclosure listed at $34k in an up and coming area, it needs about $40k worth of work and will result in $1600/mo in total gross rental income. I offered $38k on the property the day it hit ...

If you are a newish landlord, select a property that will appeal to the people you would want to rent to, not saying all people in a war zone are bad folks, but would most people want to live there?

It was immaculate inside which I found odd since it was in a war zone.

Gail, would you be making your comments about people on Section 8 having steak and lobster in their freezer if it happened to be a disabled war veteran?

The surrounding streets are nowhere near war zone but could be better.

We were in a bidding war on a triplex, but thank God often that we didn't get it; it had a big fire and we realized that the spacious units are a bear to heat.  

But which block is ok and which is a war zone can change in a block -- and I don't know the city very well.

I know that many of you have had numerous experiences so what better way than to get advice from you all.  

You have to take those areas block by block to know whether you are in a war zone and whether the property will stay rented.  

I will look at my subject property numerous ways to see what I think the real ARV is.