These would be larger 3br or 4br singles or higher-end townhomes in highly desirable school districts selling in the $450-600k range.  

The applicable section is Part 2 - Residential Districts, 3-20 - Residential Watershed Districts.

The 3 biggest things i'd say watch out for are # 1 the school district/ local school , #2 the sewer line under the house if it's a slab foundation, and #3 don't have a house tested for asbestos. 

@Antonio Bodley Appraisers will also try to pull comps in an 'appraisal district'.

Purchase price: $385,000 Cash invested: $100,000 Anticipated completion 6/1/2021 and sale price of $750KWe found this 1970's original, well maintained gem with the best schools in the district.

Also need to keep in mind that the historic district can be difficult in obtaining the proper permits and you’ll need an experienced contractor with experience in those areas.

The states where homeowners facing possible foreclosure were critically underwater were: Mississippi (12%), District of Columbia (11%), Louisiana (10%), West Virginia (10%), Illinois (7%), and Maryland/North Dakota/Missouri/Indiana/Kansas, all with 6%.

Go to the county appraisal district and find the owners of these properties. 

The property is in a historical district and had to be rezoned which pushed us outside of our closing window.

Lastly, holding the property as an STR is a viable option as well, however, you need to ensure that the County District and the City have not implemented any new rules/regulations regarding STRs (this is the risk you'll need to weigh).