But the question is whether one can actually achieve the proforma cash flow on older properties with a less economically stable tenant base.Based on your picture, you appears fairly young.My advice is buy properties in quality locations think long term 10 to 15 years - slowly and safely build your portfolio - equity and cash flow will increase over time and in 10 to 15 years you may become financially free.People talk cash flow is king but one can NOT generate financial freedom cash flow with $250,000 or $500,000 invested (equity).Even at a 10% cash on cash return, one needs $1.2M invested to generate $120K a year $10K a month.You want property to be self supporting so it needs to cash flow but once that is reached the focus in my opinion should equity growth which increases net worth.

Seriously, they are a lower-quality renter that poses a higher risk.

You will constantly hear of shortcuts during construction and the conscientious decision to use lower quality materials during the renovation.

I get more responses from FB marketplace but the quality of the responses from Zillow rental manager is stronger (judged by who views the property).how many people have responded to the ads listing it for rent?  

From what I've seen through pictures, the quality is sub-par (e.g. bad patching, no primer used, no corner bead used, etc.).I have recently started to get more strict on timelines (this is now 2mo delayed), and now he is halting the work.

How do property management companies perceive these areas in terms of tenant quality and rental stability?

If you need any help with the flips or man power i can definitely provide a high quality service 

Smaller properties are cheaper to update or can use higher quality materials.

Buy the best quality you can afford (you will regret buying in a rough area).

Doselling alpha male quality and boasting into twitter/tiktok/instagram and such :-)