Tenants tried to sue us, had to evict about half a dozen tenants, and collecting rent was like pulling teeth. 

I wanted to get into real estate, so I brought an investment property in NJ without any experience whatsoever.  

They have little intrinsic value whatsoever. 

If after cutting your teeth in this game for a few years you still wanna go into the hood there will be no shortage of ghetto inventory other investors are ready to exit out of.

I’m currently cutting my teeth as an agent!

To be clear, I am not a REA or broker whatsoever.  

If the property you are going to buy with a conventional will be an investment property/loan, then no problem whatsoever. 

Here is what I generally use in Memphis for my ratings:A+  no cashflow whatsoever if you bought here, good appreciation, great schools, larger houses, beautiful homesA great neighborhood well kept mostly all homeowners, more likelyhood of appreciation, not as great of cashflowB decent area but some homes are not perfect, quite a bit of renters but still homeowners, decent cashflow, decent/some appreciationC Very few homeowners if not any, more run down houses, good cashflow, very little appreciation, D&F  Warzone, dont event want to get our of your car, lots of boarded up houses, cashflow looks amazing on paper 2-3% rule "on paper" ARV < $45k

The reality is, the nephew/tenant has no incentive to cooperate in this scenario whatsoever since he's living there for free and it's not in his best interest if the house sells. 

We are looking at possibly new young tenants that have no credit whatsoever.