good construction in bad area

as described above, this is a typical location with good opportunity: relative new development in bad areas. it's good value play. The houses look new but area is not good as expected. The reason is that the housing market crashed. The owners of this kind new development can't afford mortgage any more. they went bankcrupt. The properties are under water. A lot of home owners become renters. That's good opportunity for us.

I think that you made a good investment here.