Not so much in the normal single and dual family residential market, but much larger properties with existing resi units for mid-low income. Residential hotels have been found with bleach soaked neutral busses before... (Not sure if I should mention that... Kind of 'Anachist Cook-book' talk...) Many of those have burned under very questionable circumstances either way. But "compromised structure" usually involves a 4 alarm with no possible way to re-hab the structure - meaning the lives of the tenants and the lives of those fighting the fire are up for loss...
Other-wise you can get what would be a complete tear-down anywhere else - put a few hundred thousand into it and still make money on re-sale. What you end up with is a facade of a 1906 laborer shack on a shear-walled, moment framed bomb shelter with the ammenities of a palace. If it has a view of any portion of any bridge, from even the bathroom window - add $200k per window. Add a fancy/desirable nieghborhood name, like Diamond Hieghts, or Fillmore add $100k. (Pacific Hieghts, Nob Hill or Sea Cliff add $1.5-3M+) Parking add $100k etc. etc.
