OK, not seeing this as the end of the world, but there are some troubling things (based on what I see in Portland and watching news):1) No inventory means in PDX people are reaching beyond FMV on housing and abetted by cheap loans2) Debt service issues - I'll take the extreme, look at retail in NYC, there's lots of space empty at $80/SqFt.  

BiggerPockets has a list of forms that you can buy from them for cheap.

If nothing else, $300 is a very cheap lesson to learn this.For example, I bought two duplexes, 3 of the units occupied, last year. 

On the other hand, if you are ok with waiting the area will more than likely improve over time, and combined with the cheap prices and outrageously low taxes (just skip grocery shopping for a week) and your holding costs for the year will be next to nothing.If you have any more questions please reach out.Dan Powers - Real Estate Agent

If she doesn’t pay him back then he becomes the sole beneficiary.The owner gets to keep their house out of tax deed sale, and if they pay him back he makes 15% annually, or him or his kids will get a house some day really cheap

It's cheap and a great way to learn different parts of your town that you probably have never been.

@Steven Wilson I never bought a duplex that cheap. 45K was my cheapest one (only put around 3K into it).

But if the contract is non-assignable and the buyer wants to cause trouble then technically they could throw a monkey wrench if they wanted to. 

@Forrest FaulconerTake a drive through Philly or any major city for that matter and you will see plenty of available and cheap housing.

They provide very cheap loans.