Question about buying 1 to 2 bed condos as investments

[Jerome Harrod II]

Lets say, you got a 30k to 40k cash buying power wanting to buy and hold something decent in lets say a B class neighborhood.
How do you feel about buying and renting out a 1 bed / 1bath condo or a 2 bed/ 1 bath condo? 

I know it depends a lot on your market, but I'm looking for someone's general experience or opinion.
Like did you find a tenant easily or did it take some real marketing to fill?  Or Would you only buy a property like that only if near malls or colleges? 

Anyone have experiences or opinions that answers questions like that?