Hilltop is now more expensive by far than a year ago but the whole area is just now breaking ground on what we'll see over the next 5 years. the east side of I5 only a mile or two as the crow flies is probably the next major neighborhood as there is a clean up project there a well.Lastly, I believe the City has yet ANOTHER major clean up project going in right next to the mall that will consume a couple city blocks, create a new greenbelt and park, etc.Ruston condos are selling for $1m+, and Proctor homes seem to start around $450k for the most part.

Also make sure you have boots on the ground that you can trust and that is familiar with that area.

capital and he will be boots on the ground/management. 

The best analogy I can give is to compare it to buying a business.

If they appraise at what Zillow says (which really looks logical to me by comparing to houses in the area) then I'm in. 

Comparable properties in the neighborhood are being torn down to erect bigger structures, but that's not my wheelhouse.

I would start getting quotes and compare the cost to what you could get for an increase in rent.Don't just assume because it is a college rental you have to have 2 baths for 3 bedrooms.

How does that compare to a subject-to deal?

Not only that I rent to people that most people here would disqualify on grounds of credit history.

I bought a lot of tax sale stuff there in the day.. this area was also known as ground zero in the weed cultivation back in the late 70s and 80s  I cut my teeth selling Ranch land in that area as a young broker..