Its a low income neighborhood and the tenant had some financial hardships in the past which I have agreed to overlook in exchange for last month's rent up front (rather than collecting just the first month and a security deposit). 

We will be visiting Des Moines mid-July to check out neighborhoods, etc.

I will definitely stay patient in the search for property #2 when the time comes.

I am having a title company to do a title search to make sure that the only lien is that of the investor that owns the tax certificate .  

What to look out for in determining potential neighborhoods (I am not local to the area and is curious on how "hot" neighborhoods started out and what signs to look out for)How bad can a bad investment be?

From there I started searching for and analyzing small multifamily properties and have began posting question in the forums.

Don't buy in the roughest neighborhood in the urban core.

Best of luck in your search, whatever you decide.Deb

My partner and I invest in the Memphis Tennessee area and are on the search for new buyers!

@Jesse Copjec Have you looked in the file place and did a search for "Construction" or "Building" to see if there are any relatively new uploads for building cost projects or calculators?