Flipping would be a natural fit for us.  

But if it were me, I would be very picky about my buys because the transient nature of the residents there make for a high crime rate in some sections.

Guess it depends on the nature of the properties (residential, commercial), your D:E ratios in each, terms and restrictions of mortgages (avoid ARM's that expire concurrently), anticipated vacancy rates and trends, cash flow and reserves, etc.

To the extent not confidential or sensitive in nature, if you'd like for me to take a look at whatever you've drafted I would be happy to 'lend' some feedback.

Navy Aviation Electrician working on mine countermeasures equipment, Industrial Electrician and Instrument Fitter(working in refineries, natural gas burning power plants, and a nuclear plant) and 6th Generation Cyberdrillship Electrician(working in places like Korea, Singapore, Angola, and currently off the coast of Egypt)are most of the jobs I have held in my lifetime so far.       

Either way, something that can come up quite quickly but is the nature of owning condos.  

I think the part that got me to accept it was them letting me know they were looking for leaks and things of that nature and it wasn't me specifically.

Also could you give some info on the nature of the business of this commercial property?

Is there not another mid-size city with less natural disaster risk and better cash flow you would like visiting?

Naturally, you'd have to work out the specifics but that's just a thought that comes to mind.