Demand and supply vary dramatically in different areas, creating substantial pricing differences.

A property in Maine comprised of 4 small parcels was merged by ordinance into a single conforming lot.

Is it simply speculated supply and demand, or is there a simpler approach?

Main level - enclosed porch, living room, dining room, bathroom, and kitchen2nd level - 3 bedrooms, bathroom,Attic - sitting area, un-permitted kitchen, 2 bedrooms, office, and un-permitted bathroom. and lots of storage (I will take out the kitchen and bathroom and cap everything so it is compliant)basement - new gas boiler, and water heater, unfinished but +9' ceiling height.

This can also be done by supplying comps yourself.

Part of me thinks the main reason I did this was to see if I could pull off the double dip on these houses. :-)Either way, just curious to see what people think since this is so completely out of the norm from my renting philosophy......

Partially, to make the point that there are always those deals that do NOT fall in the realm of 'typical'.I recently rehabbed a house that I bought from a Professional Flipper who I have supplied cabinets and counter tops to (my day job) for many years.

Mainly wholesaling right now and looking for my first few rentals to buy and hold.You mentioned that you ventured into subject 2 deals.

I understand that the cash flow is not spectacular, but after looking for 4+ months, this doesn't look so bad for Metro San Diego area (I also have limited cash reserves, so I can't put down a 50%+ down payment to make some of the better properties cash flow).My main question is whether it's worth buying a really nice property in a bad neighborhood as a long-term investment.

If your talking about the Northern areas of Rockville along with Gaithersburg and Germantown I would also guess this is as simple as a supply/demand aspect.