I always thought that in need to invest where I lived and for may years invested in bad areas that I thought I needed to.  

Readers are advised to seek professional advice.Thank you Sean, sorry I've bad at explaining the general use case I'm interested in.

If this is a bad deal because of $1,500/yr in interest run away and have your family sell the property. 

Active real estate investors who can't get comfortable not being in the driver's seat, people who just don't like real estate as an investment, those who can't get comfortable with the risks, those who just don't understand syndicate investments, those who have heard bad things about this type of investing from others, and people who have invested in syndicates and experienced bad results.

I am thinking since it is only a 2 bedroom this may be a better choice versus trying to find a smaller family to rent it out too.

I had a house in an area like this (previous HVAC was stolen while the house was vacant) although it doesn't seem nearly as bad as your area.

It may not be a bad idea to give yourself a few months to network and learn.

That doesn't make them bad, per se, it is just a very difficult market right now. 

You might spend between $5,000 and $20,000 on furnishing the unit, depending on your choices.

One thing we, as humans, are consistently bad at is predicting the future - especially when it comes to political and economic shifts.