Rehab in bad neighborhood ?

Hi, a few years ago out of either hope or stupidity, I bought a rundown house in a fairly crummy neighborhood. House needs all kinds of stuff done to it and sits between 2 vacant houses now, they just became vacant in '05. The area has gone downhill so much in the last couple years that by selling I’d lose several thousand.

It’s not the worst area in town but I would not walk through there at night for sure. Several vacancies in the area, lots of breakins, some muggings, etc. But interspersed there’s just normal people making it through OK.

My house got broke into last week and they stole a few tools, no biggie, but now I’m trying to figure out what to do when I do start rehabbing in earnest. Obviously there’s a security issue and it’s exacerbated cause the house on either side is vacant.

I’ve thought about bars on the windows (expensive). I’ve thought about moving in but would not exactly enjoy living there, could do it though. Thought about an alarm system.

Has anyone else had this issue ? I see others here kicking b*tt and am stuck on how to proceed with my little project. Thank you !

Maybe you can put an ad here on the REI under classifieds. Ask a couple k more then you paid for it. Someone may be interested. Or find out who in the neighborhood, is investing. I would just get rid of it, it seems to weigh too much on you.