Well I disagree because this partnership goes with the desire for Lois Stern to see her son do well and get a start in the real estate investing bussiness.  

At these rates, it's clear that a guru's motivation is not some altruistic pie-in-the-sky desire to pass on wisdom (not to disparage the pursuit of profits, after all this is why we are all here).

In our greater L.A. market it does not seem to make much of a difference as long as it is in a desirable area.

Our desire is to negotiate with land owner (motivated seller but not distressed) to pay for the land in 2 years time (post design-build-flip).

You need to go to the higher price points where there is a spread and the area is much more desirable to the retail customer.

We put in an offer without viewing the inside of a property due to desirable location and other investors willing to do so.  

I understand that the Deer Park area tends to be desirable from a buy/rehab/rent/refinance perspective.

However, the business plan needs to be a little better than a tuant to action.I've been looking into Baltimore myself so I would welcome a movement to turn around a middle of the road pocket to something desirable, and would be interested in being a part of something like that. 

That area south of 46th right in there is still pretty rough, and the housing stock itself is less than desirable.

Though I really hated the neighborhood, that experience helps me remember not to judge people living in less desirable neighborhoods.