What kind of property do you suggest for people like me?

1) a nicer one on a nicer neighborhood ($100k and more)? The return is much lower, but not much work either.

2) Crappy houses like the one I am talking about ($20k)? Return is better, but, potentially more work and more risk.

I want to get into the 2) category a bit, since I like the fatter return. The only question I have (which I asked) is about selling price in the future. Looks like everyone's answer is about holding for longer time (such as more than 4 years, in which my total investment will be recouped).