I would say that this neighborhood is 50% renovated already.We are finding that wholesalers have some deals but in C or D neighborhoods with at least a 3-5 year horizon before there is the possibility of upgrading given current demographic growth and direction.

@Ryan Johnston @Adrien S. is a great source and you can bet on his referrals.If you want additional options, PM me and I will send you the agent's info who works with lot of investors.Wish you much success.

A, B ,C or D. 

@Joe Kim I'm not interested in C or D class properties.

Understand that most PMs absolutely suck and will cost you way more money than they are worth, and that a great one is a needle in a haystack ... a great PM will not necessarily be the one with the lowest fees ... you need to find that needle in the haystack BEFORE you even think about buying anything.One other bit of advise would be to spend the extra money to buy quality properties, that will attract quality tenants, and make your PMs (and in turn your) life easier ... these properties won't show as high of cash flow on paper as the rough end of town, but a nice B-class neighborhood over a cheaper C (or worse) class neighborhood will be money well spent, especially your first time out of the gate as a OOS investor.

After visiting the property and talking with two of the tenants I would probably classify the property as being "C" or just very low income area.

Correct, and I do not bet on appreciation.in the next months I am going to sell all my properties for a cap rate of 5.5% and buy more.I tried refinancing the properties and it did not work well at all, so now I am going to sell them at market value which is much more than refi.I only see renos to work very well in Toronto, I would not spend as much in Hamilton since rents are very low, but talk with investors there and see what they say.

Can I bet on appreciation?

@Charlene Isoh When you say B- on what scale is that; A,B,C OR A through F, or A-Z?

Our best bet on these has been getting loans from community banks.