The home is in a B neighborhood.

Assuming the latter, your primary debt lender will see this as more of a "B-piece" debt/mezzanine loan, and will still want you to come up with 25-30% of the equity. 

It's a 3/2 SFR in a B neighborhood.

This year I acquired my first multifamily property of 6 units that gets a true 11% yield in a B+ area.

If you have a B class or better you should have standards, If not you will soon own a C/D class property.

Or if you can find something on the edge of a B or where progress is headed, there may be a high enough upside.

Description of the property1- it belongs to his parents and they are distress sellers just trying to sell2- 63 days on market3- Price- 159k, condo/townhome(HOA), 2b-1b, built-1964, 908 sq ft, 1305 sq ft lot4-  prices for similar property go from around 125k-145k5- about 40k in remodel6- they bought it in 2015 for 71kI imagine its a 'b class' neighborhood.

Plan A B C

It’s definitely possible, but you either need  the ability/willingness to pay easily $1M+ If you want to be in a B or better neighborhood or you have to be fine with living in areas like Richmond or Oakland and rolling up your sleeves on a major value add deal.

Checked with the Better Business Bureau and they gave him a "B" rating.