You can turn your nose up, that's OK. What you say shades my opinion of yourself, seems like you don't care. Your choice.
It's a majority black neighborhood, but so is the whole city. The house is tight, wired in 10 gauge and almost all copper plumbing. Hardwood floors in good shape. Low e windows. Kohler kitchen sink, nearly new oak cabinets and GE stove. I've added a lot of closet storage. Sold for 145K in 2005. Working class neighborhood. I paid cash and drove a hard deal, the only way you can buy houses that cheap.
It's not a McMansion, but I have very happy tenants and clear about $600/month. Do the math.
Trying to buy another or two.
This type of investing isn't for everyone, but I can handle it. Probably not many could. I see a market that I can serve and an opportunity. I'm doing the best I can, it's not the conventional path. But I'm not conventional.
Jeff