The short version is if you go with the Midwest, figure out which are Class A, B, C and D areas and I recommend picking good neighborhoods (Class A and B) with good schools and go for appreciation. 

There are some better areas in that zip code, and then there are some areas that you should avoid, but overall I'd say that most areas are about a C/C+ level with some even being a B- grade.I hope this helps!

Hi Melvin,Origination charges = 0 [Covered completely with lender credits]Services you cannot shop for = 2725 [This is the VA funding Fee]Services you can shop for AKA title work = 1723Total Loan Costs A+B+C = 4448Taxes and government fees = 3279 & G Prepaids and initial Escrow at closing = 10007Total cost including escrow = 14455

A set price per unit doesn't make sense to me because the finishes in a C class unit in a modest market versus a B class unit in a more upscale market could be MILES apart and cost VERY different amounts to repair/replace. 3.

To get a B-Class that cash flows is all about the initial purchase price and the amount of leverage.

You can get into a B neighborhood in Pitt for like 90k on a fix and flip project. 

First, allow me to define small value-add Multi-family, I speak with a broad brush.. anything legally zoned duplex up to 50 units (I'm excluding Class A-B big MF) To set some context, most of the investors that reach out to me are not from Charlotte, or are not intimately familiar with the market here.

I rather have an A product in a B area than a B product in an A area.  

Where I have had luck and seen many of my clients making it work is on bigger 3/4 units in class A/B areas where ARV goes to 800k-1.1 million, as provides a big enough margin.

If rentals, Class A, B, C or D?