I would then use Trulia's crime heat map function to filter out any 'undesirable' areas as well.  

In no way was I implying the tenants of these properties were bad people, simply that when I tour the property and talk to them there are extenuating circumstances and strange deals with the current landlord that have allowed them to modify the property and use it in undesirable ways. 

To get 12 -15% in today's low interest rate environment requires one of three variables (1) work the note - usually a non or sub preforming note or (2) accept a higher risk, i.e, second lien position, very high LTV, borrower with very low credit scores or bad credit history, D property in undesirable areas, etc, or (C) get VERY lucky!

Is it really a ghetto or just a slang term you're using to describe an undesirable area?

With your current specs you will most likely find yourself in some of the most undesirable neighborhoods and ultimately not find very good cashflow.

Modern typical new-construction is heavy on the "extras", meaning larger kitchens, master baths, walk-in closets, mud rooms, first floor laundry and large foyer.

However the days I️ do work are physically draining and I️ often switch between night and day shifts, paired with a 45 minute one way commute this makes for an undesirable job.

I originally thought the flood stigma would make the house a little bit undesirable and would take a while to rent it out.

My complex is in an undesirable part of town: assaults, drug trafficking and the occasional murder all taking place virtually down the block.

(They're about as clear as mud.)