It was not uncommon that they bought some of the worst houses (weird layout, dated, much deferred maintenance) in the nicest neighborhoods and then would try to relist them as-is to make a profit before ending up having to do the actual work required to the property for it to sell again, selling at a loss, or maybe making a little bit of money in transaction fees.

Starting in Highlands neighborhood (or northside) which used to be a very rough part of town, is now the one of the top 3 most desirable are in the metro and this has slowly trickled down into neighborhoods south.I am an engineer so I love to base my decisions on data, so for example looking at census data, I like to look at % of high income earners in an area to gauge if I should invest or notFor 80204 which includes the neighborhood of Villa Park, in 2010 the % considered upper middle/high income was 4.2% of households. 2022 census says that now it is 40.5%On the other end is 80219 which includes the neighborhood Westwood which would have the lowest income area on my list, in 2010 Westwood had 4% as well, by 2022 it had 21.1% high /upper middle income earners.I have properties in both and tenant applicants are a wide variety (lower income folks on rental assistance to high income earnings wanting to rent in an area before buying a home) so its hard to put a property class in this area. 

It may be fun to organize a meetup before the madness ensues, ha. 

In these cases, looking at recent sales of similar properties in the same neighborhood is a better indicator of value.

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.

Best to get recommendations if you can, you also might find one through a professional organization for Public Adjusters such as:https://www.napia.com/custom_m...

The 46218 zip code, specifically Martindale-Brightwood and then Near Southeast were a couple places that caught my eye as more affordable with good cash flow opportunity while still being B- neighborhoods.

Usually strategic locations suggest good fundamentals which means you are in a neighborhood where you wouldn't have to rely on section 8 tenants.

Popular neighborhoods include Lakewood and Casa View, but larger multifamily properties can be expensive.

The buildings are mostly located in neighborhoods which are under a lot of development.