ABOUT ME:  I am a 40 year old new investor from New Orleans, LA and I currently reside in the South Bay area of California, about 30 minutes southeast of LAX and south of downtown Los Angeles, and about 15 minutes west of Long Beach, CA. 

@Stephen Kunen definitely a positive thing for downtown

We have a unit downtown I birmingham that needs a basic rehab.

This is just an example of some of the stuff that is available downtown Allentown. 

Rent a place downtown for a different lifestyle (like this: https://sandiego.craigslist.org/csd/sub/d/adorable...)4.

I live in the area, about 45 mins from downtown.

Honestly, check the sources of the economic variables you indicated.How many cranes can you see downtown?

I am also a newbie investor who currently works in the commercial GC world downtown.

My initial projections based on a buy and hold analysis are:$1550 a month in income(Lots of assumptions here)$904.78 monthly expenses(Including maintenance, management, and the vacancy rate)$645.22 monthly cash flow23.45% pro forma Rate$9240 net operating incomex 50% for expenses equals $775Monthly interest/payment equals $124.78Total monthly cash flow using 50% rule equal $65082.90% cash on cash return on investment30.90% purchase cap rateTotal operating expense $780 dollars a monthAs I stated earlier, the house is close to downtown and the State University.

They rebuilt the bridge downtown and plan to place a bridge over the train on 46 so that its employee's won't have to wait.