Building located in neighborhood I had been interested in from the beginning of investing career.

I have the option to buy a 1,300-sqft 3-bed, 1.5-bath house in South End neighborhood of Stamford, CT, from a family member before it goes on the market.

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.

What neighborhoods to stay away from and what areas to look into further, let me know if I can help!

The estimate I have from a cost segregation firm is $316k (w/ study) vs $28k (no study)-Assume we're in the 37% bracket  -Does this mean, I can claim a $117k depreciation deduction for this year? 

Investment Info:Townhouse fix & flip investment. 26 Pilling Street is a multi-family townhouse located in the Bushwick neighborhood of Brooklyn, New York.

@Lillian Pintaro,Birmingham’s a lucrative market—it’s been my stomping ground for nearly 20 years, and you can find some excellent deals if you know what you’re after and dive deep by zip code, neighborhood, and city block.For what it’s worth, we manage 2,000+ units (many for out-of-state investors) mostly in the north and west part of town—so think suburbs outside the city limits like Graysville (35073), Adamsville (35005), Mount Olive (35117), Center Point (35215), and the like.Since you’re also open to the surrounding areas, places like Odenville (to the east) and Tuscaloosa (to the southwest) could be worth checking out.

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.

I have done some deals that barely have a little positive cash flow in neighborhoods that I know very well and know that the house should appreciate well and that I will have no problem always finding great tenants.Hope all this helps.

Are there specific neighborhoods showing the most growth?