Seeking Insight on C Class Challenges

[Dan Laseria]

Anyone experienced in C class investments? I am looking into a 4-Plex in a C class community with 11-12%CAP Rate. The CAP rates factor in property management fees and a projected 40% expense figure. The community has a medium/high crime rate and is not in the best part of town. Curious as to what challenges a situation like this may present an investor working through a property manager. Should I factor in a vacancy rate above 5% owing to potential turnover? Any other challenges I should be thinking about. My objective is cash flow and rapid mortgage payoff. Thanks!