Applicants seem depressingly casual about having been evicted previously.   

@David Butler is it high risk though (aside from a depression) in 2008 crash and years following homes here half the size of mine were still selling for 600-700k.....When I look at my worst case ( I would have to sell alot of my rentals to pay the hard money back in full) But other than that, I dont see much risk other than my profits beginning to dwindle to a 100-200k loss....

Nobody has a crystal ball but Grays Ferry is the most depressed of the markets you listed and therefore could theoretically appreciate the most if the neighborhood turns.

They are much less aggravating/ management intensive/ depressing to own, and provide much higher overall returns over time thanks to less churn and way more rent and value appreciation.

So your problem is very similar to the issue that all multifamily operator experienced :once the cap rate getting lower and appreciation increases, property tax also increases, which depress CoC and reduce NoI. 

You're right, lots of depressed rental rates right now and I see cranes everywhere so that supply will likely hit in the next 12-18 months.

$8 million in Midwest RE portfolio and putting over 30% down - that sounds depressing.

Before you get too depressed at the amount you're making from those properties you need to run an IRR analysis (internal rate of return). 

Class C property/deferred maintenance/depressed area?

Let’s call it what it is, a damn dart board.IMO, it’s important to recognize that despite the high costs of real estate / interest rates, and depressed demand as a result, this does NOT seem to be the 2007 housing crisis all over again.