Investing in an emerging neighborhood

[Brian Orr]

Hey all,

I'm considering investing in a downtown district i just know is about to explode. I'm curious if anybody has tips? I'm pretty new to the game and I'm wondering how much of the challenge I should take a hands on approach in... 

For example: 

should I buy the $100k homes and barely break even on rental holds until the revitalization is complete and sell?

should I buy double the amount of $50k homes, earn more on rentals now but take smaller returns on the sales?

Also I'm considering how much of the community development I should take part in.

Any form of suggestions or experience would be greatly appreciated.