I will echo what some of the others have said with getting a firm grip on capex and the market trends.Here are some other things I would like to know before making a call on it:What type of area is this A, B C or worse? 

I am interested in finding a grade C property that I could turn into a B+ or A- minus with some love and TLC. 

I have been searching and these are the kind of houses that I am seeing on Craiglist, MLS, papers, etc..30K older homes in C/D neighborhoods that will rent out for about $575 - $650 with $5000 worth of renovations.70 to 100K 70ish homes in B/C neighborhoods that will rent out for $850 to $1200 depending on price and other variables.100 to 250K 80/90 ish homes in A/B neighborhoods that will rent out for $1200 to $1800 depending on price and other variables.Duplexes seem non-existent or as the podcast gurus have said are a "Waldo" property with too much downside to take a gamble.

Further, the conditions there do in fact change drastically from street to street: you can go from a B- neighborhood into a D- neighborhood in a single step. 

Different sizes of apartment buildings have varying typical operating costs.So you have size of the building 10,20,100,300 units etc.Location of the building A,B,C,D,FAge of the building A,B,C,DQuality of the tenant baseand on and on.Are you trying to syndicate as a sponsor or buy yourself? 

I'm in a B+ neighborhood.

@Patrick FlanaganYou're pretty close to a down payment for a true turnkey investment in a B caliber area in Northeast Ohio.

First real deal and its a Duplex 2BR/1.5BA each with 2,240 sq ft totalI can probably buy for around $155K-$160KThis is in a B+ area with great neighbors/quite town.This is a newer duplex (2012), which is basically impossible to find in my area and never on MLS.

This property is in a B+/A- area close to collinsville center. 

This is what I think is considered a "B" neighborhood.