I starved as all my money went into building my real estate holdings & I worked every night & weekend rehabbing barely habitable properties.Most of my 6 figure salaried colleagues still pay high taxes, mortgages, car pmts & can't afford to retire.So hang in there it's a great feeling when you can finally walk away from 9-5.

The city barely has equipment to handle roads.

Bathrooms are ugly pink tile AND weird situation.

If the mortgage rate was in the low 4s or lower, then it might (barely if at all) be worth it to do this deal as a long term rental, since the money would be so cheap.  

My thought is that if the property is owned by a bank that won a court auction for the peoperty, have they listed it at a bare minimum price already?

I've looked at probably a dozen areas and the closest I can seem to get is barely 1% with most areas in the .005-.008 range.

@Eliot Adkinsfrom what I remember most off campus housing at OSU was so deplorable, unsafe and the rents so high that parents would do anything to get kids into new nice buildings and out of the old buildings barely standing with on street parking on the border of the crime ridden ghetto neighborhoods.

I actually have have more than one question, so please bare with me.

A rental nowadays is in the 0.5% area and that barely makes a mortgage payment before other expenses.  

This is the bare minimum; however I would recommend adding more members - someone to negotiate with the buyer and someone to take pictures of the property.