1 Bed/Studio mix, 12 unit building good or bad idea?

[Bud Dwyer]

I'm looking at a building in the not so safe area of Phoenix.  Normally this wouldn't bug me as I go in, fix the place up and find decent tenants for the area.  What has me worried is that since they are all single occupant units I'm going to have a lot of turnover, and wont be able to get families that are looking for stability.  

The upside is I'll be able to cash flow around $25k/year with an %8 vacany rate factored in.  I've driven by the place and the building itself seems to be in good shape, might need to get painted but, no major strucural damage.  Anyone have any experience with 1B/Studios that might enlighten me on something I'm missing?