Most think of that classification as upper-middle class, median price range and above for both home and income of the resident.  

I would also argue that you are missing out on an attractive asset class if you are only going to invest in "controlling assets" as you point out, it's a job, so large apts which are an attractive asset class are not attempted.

@Jonathan Partsch One key tip with this type of renovation is not overdoing it...i.e. renovate accordingly in relationship to the asset class. If

List of contractors: List of handymen: List of real estate attorneys: List of investor specializing agents: List of local laws (or links to them): List of Portfolio lenders: List of Conventional lenders: Price guide for Spokane and Valley residential real estate:Nice haves: One nice thing for the datasheet would be for someone to create an aerial overlay that labels neighborhoods by the ABCD classification, allowing investors to automatically avoid A and D areas and concentrate more on the BC areas. 

It's a great asset class if you treat it as a business and understand the nuances of MHPs in particular.

Find an opportunity and run with it... to say the stock market hasn’t gone up or that the RE market hasn’t gone down is ridiculous... act like an investor and identify opportunities and, when It happens, take your losses and run with them... no one who invested (intelligently) over the last 10-15 years is losing money on any asset class... if you want to be on the Forbes 20 list CREATE something... but I can guarantee you Bezos, Gates, Zuckerberg, etc.

My market turned this year and I'm struggling to rent any single-family homes, most of which are B Class. If

It is illegal to steer people to or from neighborhoods based on their race or any other protected classification.

Partnership is the default classification (you would need to elect to be taxed as a corporation).  

The classification of multifamily properties is not set in stone.Some people look at it by Construction Year exclusively, and others weigh in the Property Conditions, Ammenities, etc.Here is a very general classification by construction year:Class A: 0-15 years oldClass B: 16-29 years oldClass C: 30+ years oldClass D: 30+ years old in high crime areas.To answer your specific question about section8 being a Class B or A, I’d say it is not likely.