Investing in high risk single family rentals

[Heshie Goldfein]

I am waiting to refinance a deal that I am a small partner in in queens Ny and I am debating what to do once I get my refi money. I get 10% cash on cash which is great but I don't have any part of the management or decision making of the property. I am considering to invest in a small single family rental in Philadelphia or maybe north jersey. but I only have enough cash to invest in high risk neighborhoods and I don't think I have enough experience to know what will be a good deal in terms of evaluating the risk of the area. What advice can you give me? I really want to start building my portfolio rather than just being a silent partner in other people's deals.

Thanks in advance any advice is greatly appreciated.

Heshie