A savvy investor will not be turned off by a boarded up house, but they will be turned off by a neighborhood full of them because that indicates something about the area, demand, ability to resell or rent, etc...Hope that helps, feel free to reach out with any questions

Time to check out the neighborhood.

There are many neighborhoods which have a ton of inventory from 5k-30k, some even requiring a moderate rehab.

I also know various areas of the city very well. which I feel decreases my risk as I have a better grip on where neighborhoods are headed which for buy and hold is important. 

I'm going to be in Miami April 23rd and was wondering if anyone knows a good real estate agent or appraiser I can start discussing neighborhoods with and pricing?

It is in a good quality neighborhood with good quality tenants staying there for 3 years already.

What is the neighborhood?  

In my very limited experience the pros are that the profit margin can be very high & you can sometimes either pay for the home in cash or pay it off very quickly due to its lower value.Cons, because of the lesser value & the neighborhood it may be harder to sell if you ever decide you want to unload it.

Thank you for your suggestion.Hi Kim, its possible for me to buy but it is not what I am looking for in the neighborhood. 

I discovered 2 other vacant props in the neighborhood had been broken into copper removed at this point the one we were looking at had not been broken into.