One tip I would add is to only use a 6 month lease terms unless your market is stagnant or your property class is poor so a the turn over would be very expensive.In downtown Dallas I own a 4plex that the seller had just signed a 2 year lease on one of the units before I bought.

Great market overall, some trendy spots nearby, runners love Bayshore, and it's a short hop to the downtown area (college, nightlife).  

I am currently buying in a high crime area because it is near a Downtown that is blowing up and it is well on the path to gentrification.

Bought a condo for company use in 2010, liked living downtown so much I bought another one last year.

I've considered the area just east of downtown (2nd ward).

. (~4-6 bedrooms here).B-level: Similar criteria to A-level but without the custom built homes, 2-income families can afford to live here and raise a family, backyards for the kids, 1500-2000 sq ft houses (~3 bed/2-bath homes).C-level: Majority of houses under 100K, visual repairs needed in this neighborhood, 1200 sq ft average, houses close together, some properties worn down, grass not cut, porch awnings sagging, concrete stairs crumbling a bit.D-level: Struggling neighborhoods, garbage on the streets, bars on the windows, higher crime, crowded areas, downtown city area, wouldn't want to walk around here at night.F-level: War-zone, "get me outta here" property, makes you nervous to enter the neighborhood even in daylight.That's my basic approach when I think about properties and what areas make the most sense to invest in.

I have a flip in downtown started for 2016 and prior rental experience.

Downtown is booming in many spaces along with several boutique neighborhoods that are surging in demand. 

Developers just completed a project in Downtown Phoenix.  

Hey all,I'm considering investing in a downtown district i just know is about to explode.