Analyzing my first property and I have a strategy question

[Jeb Brilliant]

So the first property I'm considering is in a neighborhood that makes approximately $30k/yr income per household and I'm planning on paying $50,500 for it then I'm guessing I'll spend $10k to fix it up with new paint, carpet and maybe new bathroom sinks/cabinets.  I don't particularly want to be in this neighborhood but it's what I can afford right now. 

My question is... Is it ok to be the nicest house looks wise in a lower income neighborhood? One sign to me is that there are no bars on the windows of my potential house or most of the houses around it. 

What do you all think? Thanks for any input.