BP family,I'm having just a small hangup on classifying apartment buildings. I've been taught and learning that:Class A apt buildings  are 10 years older from today's current yearClass B apt buildings are 20 years old...

On a a/b/c level property, you wont get a massive discount AND be able to buy using FHA. 

I say it a B neighborhood. 

Most individual investors if they are buying 100 unit properties are doing value add or buying an older property in a B to C area for less cost per door.The low maintenance properties that were built correctly brand new in good areas are usually 6 figures per door in cost.

Rptr. 2d 336].)119 Civil Code Section 1942.4.120 Civil Code Section 1942.4(a).121 Civil Code Sections 1942.4(a),(c).122 Civil Code Section 1942.4(a).123 Civil Code Section 1942.4(b).124 Government Code Sections 66427.1(a),(b).125 Government Code Sections 66451.3, 65090, 65091.126 Government Code Section 66427.1(c).127 Government Code Section 66427.1.

A/B area. 

The house prices are reasonable and is in a B to C range neighborhood but the cash flow appears pretty good if I can find a deal.  

So, depending on how deep your pockets are, pick a property in a good neighborhood, usually a B-class area, with good infrastructure and within close proximity to facilities.Hope this helps and best of luck,Steven Steffel

I agree that nearly anything in Johnson County is a B or better, with most being an A or better area.  

Sharing the data below and appreciate any advice on how you would forecast vacancy.For reference: I plan to acquire for cash flow and maintain as needed; no active development.Q3'16 Metro-Detroit Data; source: CBRESub-Market data specific to the building in question (classes A,B,C); source: listing broker(shows 8% vacancy)Historic Vacancy & Forecast specific to the building's submarket; source: listing brokerI requested historic data dating back to 2005 to observe how vacancy was effected by the last recession, but historic data was only available to 2012.