But 50+ year long trends like moving towards waterfront and cities IMO have decades to run. 

IE our properties can and do double in a decade .. or more than double.

My background has been IT and Product for almost a decade now but after realizing that this was not my calling I finally decided to go head first into the real estate investment industry starting off as a hard money lender. 

It really helps that subcontractors on our team have been working with the city for decades and can help navigate the difficulties.What I can tell you is if you open up walls or areas of the house expect to bring everything up to code that was exposed. 

So it's a no go because there have been no repairs or upgrades done in almost a decade so repairs alone are probably a minimum of $40k

From my experience in working with the senior community during the past 3 plus decades you'd be much better off just sucking it up, licking your wounds, fixing up your vacancies and moving forward. 

Baltimore has been losing population for decades.

It's the only type of real estate I've done for over a decade here.

I have offered free evictions for almost a decade.

Despite this fact, people have been investing, living, and thriving within the market for decades.