To keep investors and future homeowners up-to-date on the latest real estate news, Foreclosure.com features an Article Center that we update each day. These articles are also archived in the left sidebar for your convenience.

Bob Bruss — who is widely known as the “Dear Abby” of real estate — is often featured in this section. He leverages more than 23 years of experience in the industry to provide readers with usable information.

And a recent article on “10 things investors should look for in fixer-uppers” is certainly no exception. It’s a simple approach on how to profit in today’s real estate market with homes that need a little “TLC.”

Whether you call them “fixer uppers” or “handyman specials,” there are not too many other businesses other than flipping real estate that can generate a similar return on investment in such a short timeframe.

Consider the following:

1. Basically sound condition without major structural defects
2. Good location with a low crime rate
3. Good-quality school district
4. Need for profitable cosmetic fix-up work, but not major unprofitable repairs
5. Purchase price at least 30 percent below the market value of nearby comparable homes in good condition
6. Purchase from a motivated seller who is anxious to sell
7. Affordable low-down-payment financing
8. Seller or tenant will vacate immediately upon transfer of title
9. Within a 60-minute drive from your current residence
10. Good demand from renters and/or buyers

To read the entire article check out InmanNews.com (subscription required).

Now, the quick steps mentioned above are not going to turn you into a pro overnight. But, use them as a guide as you research potential investment properties on Foreclosure.com.

The best general advice we can offer on this topic is to go after houses that are located in nice neighborhoods and only need minimal amounts of work.

That’s because just some minor touch-ups and cosmetic work such as painting and new carpets can go a long way when it comes to turning a nice profit on a home.

In short, look to purchase the ugliest house on the prettiest block. Don’t be scared off by houses that look and smell terrible. These are often easy — and cheap — fixes.

Happy house hunting!