We are all aware of the term "buy low and sell high". We are in a buyers market and the prices are as low as will ever be again. Some sellers are accepting $30,000 or more under their asking price. If the market value of the property is in line, that is immediate equity that you can pick up. Arrange for a long possession date or rent it out for a few months, and you should realize a nice profit within a year. Not a lot of effort or risk exists. There will however, be a short window of opportunity so don't let the bird of paradise fly up your nose. Just do it!