I even one guy tell me he did not underwrite the deal before purchasing but he knew it was a good deal.I constantly have to remind myself to be patient... keep working... my day will come!

I worry about not knowing what streets to avoid and safety in that area cause I know it could be 2-3 streets over and it’s little rough.

I'm currently looking in South Side near Carson street for close proximity to downtown, safety and retaining value. 

Local Building & Safety Departments will be familiar with this term.Keep in mind this is a MAJOR project. 

There are also more regulations around safety you need to be aware of - sprinklers,  egress, decks, etc. 

A landlord must repair a condition if a tenant gives notice of a condition, the tenant is not delinquent in rent payment, and the condition materially affects health or safety of the tenant or is due to the landlord’s failure to supply hot water at a minimum temperature of 120 degrees Fahrenheit.

I'd rather stay patient than overpay and destroy cash returns.   

If not they may be hanging on as long as possible whether they’re safety is at risk or not.

My main concern is protecting myself, as I have no equity in the property and legally don't know what safety nets are available to make sure I get properly paid out on the back end.

Just be patient and you will find them.