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Look on ebay - you'll find a lot of flint/saginaw/detroit houses for dirt cheap. I used to work with investors in Detroit who bought those places up and renovated them. Once company from FL bought up a couple blocks for like $500k. We had lots of work to do. I'm sure they made a pretty penny once it was all said and done. They were basically re-habbing neighborhoods. If you've got the buying power - go for it! Just be prepared to replace the plumbing and electrical at least twice. Crackheads love that copper.
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