When the get rich in Real Estate Guru's talk about people having large number of SFR units in a portfolio, I don't think they really anticipate many if any of the followers to actually do it, that's mostly hype for the sales pitch, If they did it would mean they didn't truly understand the next level in RE investing.I would rethink your plan and conduct some analysis on obtaining Institutional grade Multi-family properties. 

I recently launched this project, called "Maximus Neighborhood Grades" in an effort to develop neighborhood-level grades for key cities all around the country. 

I'm certainly not saying to not do it, I've had dozens or even hundreds of people tell me not to get into low-end houses, however You've gotta look at the big picture of low end property and work out tons of issues as compared to higher grade Cs and Bs. 

@Lou Ruggieri,alternative thinking:-clean basement floor to perfection-waterproof membrane/ couple layers of exterior grade paint (encapsulate any asbestos dust)-exterior grade carpet : because you are up north/cold floors; if flooded, can be taken out, disinfected and hosed out, dried out, replace backalternative thinkhing2:-clean basement floor to perfection-waterproof membrane/ couple layers of exterior grade paint (encapsulate any asbestos dust)-treated 1x1 (as "ribs"/"joists")-lay exterior grade plywood/ost on top of it-floating floor on top of that: preferred here is Allure LVP from home depot, but many available from reputable manufacturers; probably floor needs to be rated for under grade/basementsortile everything and provide rugs + non-slip underpads

We had a couple weeks in the winter to have it replaced, and even with my father doing a lot of the work (crushing the old tank, grading, seeding, etc...) it cost... $12,100.Original profit would have been $36,166.10, which still not great, would have landed me better than originally expected.

If this is a low end rental I'd make sure everything is clean and functional and use as-is.If you are looking for something a little better maybe leave the cabinets in place but install new laminate counter tops, sink, faucet, and mid-grade appliances.

SFH and Multi-family units in that area code range on a grading scale from C- to C+.

Farther more, how to grade areas withing the city by their "desirability"?

I see reference a lot to school grades on here, as in:  "It's a C town" or "C- area" etc.  

The area grade could be higher depending on who you ask....its not Detroit, and hell I'm originally from the south side of Chicago so this place is great by my standards!