This worked in Baltimore city because almost every block had a property in tax sale.

How many tenants are current in their rent.Other due diligenceCheck for building code complaints/violations pendingLook at rents in the area (within a couple blocks) Look at amenities, look at crime rates.

No water, and you may have lines that were frozen and damaged.

@Joe Capobianco  the regular security deposit should be used to cover any pet damage.

The old wood turns hard as iron---if it is not termite damaged, then it can turn to sawdust!  

I could rent it out to a family like I've stated, rent it out to college students (assuming it is in the right area) with the requirement of a parent's co-sign for damages, or utilize it in an 1031 exchange strategy as a last resort.

Last summer a house came up on the MLS two blocks from my primary residence.

@Andrew B.I would save up for vacancies, damage to the property and court cost.

We also had some wind damage that occurred on the property and Properly took of that too. 

I'm a little nervous to introduce myself to this community but here goeshi there, my name is Jose Aguilar I'm 25 years old and live in Whittier CA 90604, I love to eat, work out and read books, and i now have an inter...