To fill the gaps between new builds for our own account we are looking to do work for others.We are not well suited to the large volume / low return type of work (flip contractor, small remodels, etc.) but have the ideal setup and experience for new home construction, custom homes, small commercial and multi-family, and major remodels. 

I know Phoenix got hit very hard with foreclosures and homes could be bought for $30k or so on low end and people had their pick since the bank was off loading so many homes , now looks like low end is $150k plus .

Again, stay low in numbers and observe.

I got the tour after telling them to pound sand if they expect me to buy it sight unseen inside, but the tenants were entitled and uncooperative low end people and they had been spoiled by the landlord who had no idea how to manage.

Ever Since I got started investing in realestate I have been able to secure owner occupied financing which kept my down payment low which has been ideal.

I'm waiting for a pre-approval letter to finance a single family right now. 

The smaller towns have less buyers, have more investor interest, which means more low price offers when you sell.Our appreciation on our four plex in Crystal is crazy good.  

The reason why I began there was the Mid-West  had all of the metrics that I was looking for i.e.. price to rent ratio, landlord friendly laws on the books and low cost of entry. 

So they set all of the gold cars they saw in the parking lot on fire.No caption necessary for this toilet from hell.This is what a kitchen can look like when a low income tenant moves out of it.This is what a backyard can look like when a low income tenant moves out of it.If tenants in these tough neighborhoods don't have yards, don't worry they will light off their fourth of July fireworks in their bathrooms.Don't worry though.

The low money down and better owner occupant interest rates can't be beat.