Her husband left her and she just can't afford the house on her own.

I lived in the 5th ward for two years after college as it was affordable...my truck was vandalized every six months, and I was in the nice south of I-10 area.I own several rentals in the Houston and larger metro area now - none are in the 5th ward.

But still better then most cities as the cheap home prices drive growth through affordability.

Working in Wall twp and allowing for a one our commute affords a huge territory.

She new I liked rehabbing and this one was affordable. 

Missoula is still relatively affordable, but the college has been going through a rough patch lately that is likely going to keep prices from inflating too much.

Loan modification programs, such as the Home Affordable Modification Program (“HAMP”) are covered by the rule only to the extent that the modifications do not involve extending new residential mortgage loans or offering or negotiating the terms of a residential mortgage loan application.

@Larry T., you would be AMAZED at how good that room could look, with re-stained parquetry (sorry, I agree with @Max Tanenbaum), and PROPER colored walls (it's that BLUE that wrecks the room - which really IS from the seventies)!

Its not worth the hassle in my opinion, put it on the market and sell it to someone that can afford it.

Pay them down over the course of my life, and retire, and use the monthly income to pay my retirement, and sell when needed.I will seek out properties in key areas of the country that allow for families to rent, that are affordable (middle of the market), and can easily sell in 40 years time.