At that time, I was only marketing to the four major counties here in Tampa, FL, and the surrounding areas.

By the time we paid the legal fees to our lawyer to do the conversion and the reduction in the balance of the loan took a major loss. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

When you get into development, particularly larger developments like major apartment complexes and/or subdivisions, the game is heavily focused on political connections.  

That works for me but probably won’t for a majority of landlords. 

I agree that a vast majority of RE agents have not honed their craft.

I recommend looking into Columbus OH - lots of population growth, job growth, and major companies building out here like Intel, Meta, Google, Amazon, etc.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Does this allow for the accumulation of funds to pay off major improvements around the time they will need be?

3) If there is a major issue at the property such that nobody can live there, it is expensive to move and you need time to find a place.