When the location is down you will have to know up front that buying a property for wholesale real estate investing will require some understanding. You do not want to be forced to limit yourself to acquiring a property that you can live in. In which case, that means you buy a property and occupy it until you flip it. In such a location you will need to get ahead on other sellers. You will not likely be able to sell it any higher than what the area supports. Thus you need to tie it up at a huge discount to make a decent profit if you are attempting this traditionally.
In this case flippers will begin by researching listings in the current locations. With the immediate real estate areas and the number of motivated sellers, investors who are flipping real estate are profiting very good. No matter what you choose to do, everything aside, you have to decide whether the money you made against the level of risk that came into play getting the house successfully turned. This is why easier low risk methods like real estate wholesaling are suggested.
Remember to educate yourself about wholesaling houses and/or seek an experienced colleague before you consider any new real estate investment business and investment pursuits.
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