Instead of looking at what it cost, look at what you would loose if you don't use a Realtor.

Without the right team for the construction, it is better to sell the package at a small premium and get something for the project than to loose your shirt trying to salvage a bad one.

Or it could continue to drop and in that case you would loose equity.

Annual Maintenance Exposure = $700Because we spend so much time making sure we are buying in the right areas, we implement uniform construction through all of our properties (same sinks, faucets, lights, paints, floors etc) we save huge $$$$$$'s in the long run and the products we try to install are resilient products designed to withstand multiple turns without loosing the appeal. 

Although buying at discount NEVER hurts, the B&H is all about cash flow - - you're investing in a cash flow and a caprate - - and it's annual, multi year return whereas flip+rehab is a one-roll crap shoot and you need to repeat repeat repeat, each with the same odds as a come-out roll of two - - you loose.

You can make or loose money in any market and  with any investment.

I've seen many investors loose their butts on some of the rougher neighborhoods because they figured there would be no way to loose if the deal was that cheap.

I’d do a lot of research on areas/building types that meet your needs, and proceed cautiously- first rule of investing is- don’t loose money!  

If you are in a market that is not landlord friendly- you can get help by having a HUD tenant, they can be removed quickly without the courts through loosing their HUD vouchers. 

Market" (to use another Buffett/Graham term) will say my property is worth more or less than I paid, but I don't loose sleep over it.