The one I'm keeping my eye on is such a pariah even the investors have stayed away so far. Not in my neighborhood, but in a decent working-class area, not the ghetto, and on half an acre.

In addition to the typical "needs a gut" stuff the place smells OVERWHELMINGLY of cat pee. Like walk in the front door and gag.

It started at $18K. It has crept down to $12,500 over the past few months. Still no takers. I've been tempted, but we've decided no new houses till we finish the one we're in.

Cat urine is the kiss of death for a house.

There is a "cat pee" house in another section of our subdivision. When the house went into foreclosure, a flipper bought it. During renovations, he replaced the flooring, but not the sub-floor or any of the joists. Now that the house is closed up for winter, the buyers he sold it to are starting to notice the odor.

I really think cat urine needs to be specifically addressed on the disclosure statement.

One of the two run down houses sold in DDs neighborhood three years ago. Investors had bought it, knocked it down, and built a mcmansion on it, which sold for over $2M, which is pricey for her street but certainly not her area. Keep your fingers crossed that someone will do a really nice job on a renovation.