Buying for Appreciation due to City Renovations

[Jake Lowing]

Hello everyone! Today I am doing my Biggerpockets due diligence and setting up my profile // leaving iTunes podcast review (5 Stars!)

My first forum question:

I purchased my first rental property last year at the age of 20! So far it has been a great success. I am house-hacking and cash flowing about $200.00 a month, this has allowed me to put about $1200 into the bank each month. Now I am looking to invest again. My first home is a single family 3 bedroom 2 bath house in the Grand Rapids area. I am looking to invest in Grand Rapids again. There is an area of Grand Rapids (East Side) that has boomed within the past few years after the city came in and did some renovating. Now they are looking to do the same within the next 2 years on a popular (but run down/low income) area on the West Side. Right now there is a home for sale that sits on the exact street they "plan" to renovate.

My question would be, how should I factor this into my investment analysis? Do I start looking in that area for rental/appreciation play even though it is lower income with a higher crime rate? Or do I take the city's plans with a grain of salt? And who should I contact about planned city renovations?

Assuming I will be purchasing a duplex and personally living in one of the units, I want it to be safe. I also am just starting my investment career and do not want to put myself in a bad position at the start.

Thanks!

Jake Lowing