On other side of coin, doing AAA; A-class assets, A-class tenants, A-class area.....

@Jake AndronicoAs desirable areas near city centers become more expensive and densely populated, there will be a resurgence of suburbs located approximately 10-30 miles outside major cities.

Just don't combine old and class D unless you have a very good reason. 

Real-life reps, to me, means seeing properties in person, whatever your asset class. 

Can some of your concerns be mitigated (locally) through things like strong tenant vetting and property class selection?

@Sakib KhanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Grocery stores, day care centers, parks, restaurants, shopping malls, distance to downtown, major highways, etc.

Quote from @Owen Maiden: Hello, I am looking for C class neighborhoods to invest in.

I am more likely to go with used kitchen appliances on a C class rental than a nice B class rental. 5.

There is no class action suit at this point.