Need advise fast!!!

[Kaye Branch]

My husband and I just got started doing buy and holds. We currently have 1 rental property that is going well and we decided to move out of our home and use it as a rental because it would bring in significant cash flow. We searched for another place to live in ( fix up then rent out and move to next house) but in our haste we jumped on a house because we thought it was a great deal plus the owner was willing to provide financing. We need to make a few repairs then it should be ready to rent out. The only problem is I later did further research on the area and it is known for being a crime infested neighborhood. We already have renters eager and ready to move into our current house and they are supposed to move in May 1st. (1 week from now!) They have already given us their deposit. My question is should we still move into the house and continue our plan but try to move out expeditiously? Keep where we are now and give our future tentants back their deposit? Or try to find somewhere we can stay temporarily like a long term hotel or month to month apartment (pricey and defeats the purpose of gaining cash flow) until we find another more suitable home? We have two small kids so safety is very important to me. I would greatly appreciate any advise!!!! 

P.S. yes I will do more due diligence on my next deal prior to agreeing to purchase it. 

[Damaso Bautista]

@Kaye Branch

Hello Kaye, I don't know about the neighborhood you are talking about but I have lived in very rough neighborhoods in my life.  To be honest the majority of the people that live in these areas are nice hard working people that just want to live a nice peaceful life like anyone else.  If you do move in there and give the neighborhood a chance you may be surprised at the community as a whole.  

I am sure there may be other factors that I don't know about that contribute to your dilemma but the definition of high crime area is very vague.

If it was me I would give the neighborhood a try.  You may be surprised.

Please keep us updated because I have always been interested in these type of situations.

Thanks!!