. - I liked what you mentioned until the last sentence :) Looking for areas that have bigger economic engines that can create stable renters and lesser headaches.

It is relevant, because the present day economics are not much different.Basically, if you were thinking of taking on a 32-unit multi for the first time, would you prefer to swim with or against the current?

However, we have the issue of storm water management (aka the rain tax) which is another example of the government not understanding the economic impact public policies have.

If buying the HOA Lien and paying off the mortgage makes economic sense (unless there are other liens) then yes do it.

When there is an economic downturn class C gets hit the hardest. 

It's probably unlikely you'll be able to do much about things that makes economic sense.  

Hi there -- I'm very new to RE and BP, so apologies if common economic logic already answers this question.I live in Chicago along the Blue line in Logan Square, which is a "hot" neighborhood.

Unfortunately (IMO) we do not live in an era of free market economics.  

If you need full blown rehabs, your most economical route is to find someone by word of mouth.  

I was almost wiped out by the 2008 Economic Collapse and now I am just selling and planing to consolidate my efforts with anything I can do tax-free or tax-deferred.