North Minneapolis good place to invest? Advice Please!

[Jordan Crockett]

Hello I am considering buying a duplex in North Minneapolis and I wanted to get some advice. The property itself has been rehabbed and everything looks great. We are ok with the neighborhood regarding safety and everything. We would live on the bottom floor and rent out the top because it has 4 bedrooms. This would be our first investment purchase and we would be managing the property. I have a few questions that I would appreciate any advice/ help with. 

1.) My biggest concern is renting a 4 bedroom in that area, (I assume a  family would most likely be attracted to four bedroom). How would I find the best tennets for a four bedroom? is it more difficult to rent to a family? 

2.) Will the home still Appreciate like other homes in Minneapolis. the houses next door dont look amazing but everything looks newer and nice a block over. (single family homes with lots well maintained)

3.) Is Vacancy more likely in that area/ what is the percentage ? Eviction common? not really trying to do section 8 but open to the idea if recommended.

Any help/Advice on owning property in North Minneapolis would be much appreciated

[Jordan Moorhead]

@Jordan Crockett 

1. You could rent a 4 bedroom out rather easily but your easiest route to get the highest rent in the area would be utilizing section 8. You would most likely get a family with 6 kids.

2. No. Depends on the exact area a lot but generally no. Furthermore if there is any sort of downward swing of home prices North Minneapolis will be affected before other areas. People are buying there now because it's the only area they can afford. When people can afford to buy in other areas they are more likely to do so, affecting the home prices in North Minneapolis because of less demand.

3. Not sure what market rate vacancy and evictions look like. Everyone I know that invests in North Minneapolis does section 8. The rents are higher and they're more likely to get paid.