Buy duplex only "where I would live?"

[Paul Nagy]

Hello all. I'm a relative newbie and this is a question which I can't get a straight answer or even guidance from my real estate agent, friends, etc.

I've been looking to buy a duplex in the Kansas City or Lawrence area. My plan is to acquire up to about 10 properties and have those become my retirement source of income down the road. Therefore, I'm planning to hold my properties for 20-30 years (I'm 36 .) While it's practically impossible to predict what a neighborhood or street will look like in 30 years certain areas obviously appear much better than others.

All of the duplexes I've looked at have been in good respectable suburbs (Lees Summit, MO) or a college town (Lawrence KS). However, many deals that cash flow well such as a $130k duplex bringing in $1,450 per month are In neighborhoods or streets that while aren't quite getto, they seem more trashy than I'd like. Yet, does this even matter or is it ridiculous for me to think like this? Reason I'm concerned is two-fold, quality of tenant and what if the street/neighborhood does become crap & getto in 10/15/20 years?

So all in all, my mindset has been "if I wouldn't live there I don't want to own it as a rental." But, I'm not sure this is a good way to think.

Thanks!