What thoughts does everyone have regarding buying a long term rental in a new build neighborhood?

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’ve seen investors spread too thin by picking up multiple inexpensive properties in less desirable neighborhoods, only to be hit with constant maintenance issues and tenant turnover.That said, there are still opportunities in the Midwest where you can find properties in stable, growing areas.

The one concern would be the class of neighborhood and financing limitations (much less options for financing)

Unfortunately most investors believe their excel spreadsheet will provide all the answers but I recommend combining your pro-forma with a greater emphasis on physical interaction with the properties and more importantly neighborhoods where you decide to invest.

The neighborhood has an HOA.

I've been here since 2007 (but only started investing in SFH recently) and have definitely noticed that when I see a duplex, tri, quad, 8+ they all seem to be in rougher neighborhoods...that being said, I myself definitely want to find some and may end up relying on off-market deals to find what I want.Let me know if you learn anything new about multifamily here in Memphis, I'd love to understand it more as well!

I have a kind of "secret empathy" for younger folks nowadays because they've been condition to be these impulsive, reactive hyper-drama organisms. 

Try looking into zillow/Redfin and see what your potential rents you can get near the neighborhood by filtering the bedrooms/bathrooms of the intentional property that you are planning to buy.

I visited Fort Wayne this past weekend to research the neighborhoods and get a feel for the market.