Hello, I'm pretty new to investing in Real Estate but recently got two deals accepted then out of the blue, I started getting emails from "Private Lenders"...

@Zana Blue You're in Saint Augustine??

I read that in this post: https://www.biggerpockets.com/forums/86/topics/166...I do understand that these are lower income "blue collar" type towns, but are they bad investments? 

I have been using Shelter insurance for my two Kansas City area properties (one Blue Springs, one Independence), and I have been looking into REI Guard which I find to be much more cost effective and better coverage for these two properties.

The fact the you are asking this question for your friend is exactly why so many blue collar trade owners go out of business or struggle for ever.

My wife, Becky and I own and operate Blue Eyed Cat Investments, LLC.  

outside of major cities. the in-between areas are usually blue collar and reasonable.my area in between Indianapolis, Dayton, Cincinnati usually has stuff come available in the $20k-$100k range and that could be a duplex upto a 4-plex. in fact in the span of a year, $200k would get you 8-10 duplexes all with at least a 2% cap rate.

Selecting a stock as long as you are in a blue chip stock and evaluating technical analysis, anybody can do it. 

There is endless knowledge available here in one form or another be it forums, blogs, podcasts and as many people neglect the blue bar above.

I am looking in the 8-20 unit range for a multi-unit property.One I found is a 12 Unit building listed at $385,000 in the midwest.It is currently 100% occupied.It has had major updates in the last 3-5 years.Each unit is 2 bedrooms/1 bathroom.Each unit rents for $450 (about average for the area-blue color).The $32,083 per door price seems quite high.I have read many of the topics and seen possible prices as low as $10,000 per door firesale or more realistically about $20,000 per door.If I could get it for $300,000 ($25,000 per door) does it make sense?