It is priced well below current asking prices in the neighborhood - at least $20k - which immediately caught my eye and raised my curiosity.

Most of those houses I have found aren't in the best of neighborhoods.

I think the neighborhood is rougher so that may well explain why no one else has been keen to touch this.

Along with the BPO you can take a peek at it on zillow/trulia/etc and see what the house looks like (google maps street view is great), as well as what the other houses in the neighborhood are listed for.You can quickly figure out if it's a nice neighborhood with manicured lawns or if it's a junkyard.

I have one rental unit (a condo, looking to buy my first multifamily this year) When you find the right neighborhood in Bridgeport there are definitely some good opportunities with some pretty good tenants.If you ever want to chat about the area or need some feet and eyes on the ground in this area don't hesitate to get in touch.

That is a beautiful neighborhood.

The answer to your question in "high end neighborhoods" like you posted earlier is SS / REO's are SLIM to almost none in Rochester, Bloomfield, West Bloomfield, Troy, which are areas you're looking to target from what i can tell.

They both in the same city but opposite ends of the city, know the neighborhoods well, and am comfortable with them and the values they demand.An advantage I have in this transaction is that I will more than likely use a first time home buyer rate and only 5% down payment incentive program.

For us the first level is finding potential: Growing population in an area with growing jobs near convenient transportation, shopping, services and entertainment options.

I was talking to @Marc Littmann just the last night and we were discussing how the City of Denver shut down a VRBO house in my neighborhood.