Distressed homes (homes in foreclosure or short sale) and damaged homes (those in need of serious repair) are becoming less and less attractive to first-time home buyers because of the time and money involved.  That’s no problem for investors, who are taking advantage of these competitively-priced properties.  With the number of these homes driving down the value of real estate, more and more investors are buying property with the hopes of gaining financial capital.  The price of damaged home hit a two year low lat month, and more investors took advantage of that.  Many investors hope to turn their new parcel into an income property, by either renting it out or ‘flipping’ it.  As more Americans see renting as an attractive option, more investors are willing to capitalize on low real estate costs.  Once the market turns around, investors are projected to sell off properties for profit.