http://www.glorianilson.com/Listings/564-oak-hill-rd-middletown-nj-07748_21300691
A forgotten 1.62 acre parcel with a small ranch on it, surrounded by $850k+ new construction.
The inside would need to be completely renovated (which isn't all that big of a task for <900 sq ft) which I'd do with the intention of it only existing for around 5-10 years at most.
The lot is almost 500 feet deep but the house is pretty close to the street, so there's plenty of room to a) build a detached 3-car garage and b) do a completely new house behind the existing one. The property is wooded on all sides, and all the surrounding stuff is set back far enough that it's pretty well isolated.
In that area the bulk of the construction is new McMansions on less than an acre...honestly the land alone is worth more than the asking price and with minimal improvements there'd be no problem reselling it at any time for a profit.
I've had a contingency plan for something like this running for the last 4+ years so luckily I'm in a position to be able to make a move on it...with as many developers as there are working in that area right now I can't imagine it's gonna last very long.
Meeting with the agent at 5:00 today for a walk-thru, she's doing preliminary paperwork and I'll be showing up with a pen and a deposit check in hand.
