There is a lot of success in the buy-remodel-flip process, but most of it is at the low-end of property values (under $150,000) due to the huge number of repos local banks have on their books coupled with serious bargain-hunting by would-be buyers.

If you are within the city limits then generally you have a city tax and a county tax with any special assessments added.Across the country appraisers for the counties and cities are out for the "money hunt" to try and inflate property tax values now that according to them the economy is healthier.

They treat these people, mostly minorities, like hell and then are shocked, shocked I tell you, when they fuss about paying the rent.Curiously, I have a couple guys who buy 15 and 20k rat's nests in edgy neighborhoods and spend 4 to 10k repairing them to be clean, functional homes.

Get out there and look for the deals, and when you find it analyze the crap out of it and then make your decision.Good hunting to you-Arlen

@Aaron Hunt so to clarify - you bought an sfr here several years ago around the 100k mark?

I'm wondering if I'm better served finding a turnkey provider or making multiple trips to the area to house-hunt with the help of a real estate agent and then find a great property manager to oversee things. 

"Ugly" land is usually marketed to hunters for a value that takes into account the emotion of owning hunting ground.

@Aaron Hunt I didn't mention any of my cars except the first since it's not really relevant to the discussion.

For this property and future house hunting as well.

I am too old now and I have a few development tracks that will ripen over the years that I will leave as legacies to my Grandkids and great grandkids.But if I was in my 20s or early 30's I would include a nice NW timber track in my portfolio..not only that you can camp on them hunt fish etc.. if there large enough you can put a cabin and now a days with the container homes you buy one of those and lock and leave.There is a reason they were called Timber Barrons.. !!!