While all the areas of the country are different, in my area, it takes a minimum of $100K to buy anything site built the size of a 16x80 in a decent neighborhood.

Look for rentals staying in the immediate neighborhood.

I think Brandon Turner called this 'hybrid investing' in an article.Ive bought houses for less than half what they sold for 10 years ago in great neighborhoods.

Barring that, you should be able to get the local authorities to compell the uncooperative homeowner to work with you, as it is definitely a health concern for the neighborhood.

If you're dealing with a lot of custom residential projects (old houses, different architectural styles, etc.)... then it misses a good design opportunity to make your house really stand out and look as good as it possibly can.

We have a practically paid off rental property (we owe 39K on a 5.25% 15 yr fix) in a great neighborhood that has had the same renter in it for 7 1/2 yrs.

I have a tendency not to combine this activity of management and selling because its too intrusive to my style of ownership.

I myself just came across a few for $500 to $3000 in decent neighborhoods in southern California believe it or not.

I believe repairs will be in the neighborhood of $25K.

Figured since I was in the neighborhood (it was 5 minutes from the Men's meeting) I'd drive by and make sure it was a house and hood I liked.