., the population and job growth will occur where there is opportunity, low taxes with entrepreneurial soil, warmer climate,  great quality of life with lower cost of living.

Okay, so I'm new here, and what better way to kick off my membership than with a healthy confession. 

Since you don't mention where the property is located it is a little hard to know the building style and soil conditions.

So, in a few months’ time I managed to flip his house for a healthy profit.

The increasing population, 5 military bases, over 16 colleges & universities, 2 major medical centers, proximity to Eagle Ford, and the fact that it's first major city north of the Mexican border all help make this a healthy market for investors

If I had the means, the youth, and the health, I would be investing there like crazy, buying entire neighborhoods, and talking my investor friends to buy the surrounding neighborhoods and businesses.

Depends.I see Real Estate Investment like losing weight: you have to find what works for you and stick to it, in a healthy way.Some people are marathon runners, others are power-lifters.

I ended up doing the remodel for around $7k and it's currently netting me a healthy profit.

It may be more economically feasible to drill a water well $3,000 & install a large septic system & field line $3,000+/- if the soil will properly perk.   

Because of the soil and the subterranean feature of Philadelphia basements you will always have some moisture in the basement.