[quote=jpinpb]There’s still too many investors buying cheap places and fixing/flipping. Hard to believe, but I’m still seeing it, particularly the cash only places and places that are in need of fixing. Buy w/cash cheap, fix, sell higher but to someone qualified under FHA guidelines.[/quote]

This behavior is bottom like in some ways(according to criteria on this thread).
1. Not just anyone can borrow to buy that POS. Somebody willing to put up money who possibly knows what they are doing will get it.(Someone might know what they are doing but lender is not gonna bother with the POS on a low down payment loan option)
2. You have to work to make a profit.

BTW you can also look into FHA 203K for these.I have a referral to a mortgage broker who does them if you want it. I can’t really make a strong pitch for why to do it.The process is involved. It could increase options a bit.Someone might get the kitchen or deck or other repairs they want on a property they are otherwise crazy about. Could be good for someone who wants a fixer but doesn’t want to spend up all their reserves on repairs.