However, I am sure you not want a low C or D class neighbor that would produce high turnover, headache, and higher overall cost (keep in mind you are in CA, that favors tenants pretty heavily compared to a lot of other states).

Sure I hope to help you invest in Toledo and I run a property management company to operate what you buy, but fundamentally I hope to evolve Toledo in your opinion from "Little Detroit" to its own developing (appreciating) community.I grew up in Toledo, I invest in Toledo, and I'm happy to show you how I made my fortune IN TOLEDO.Hi Andrew,I think it's awesome that you have the time to truly show the investors around town so they can see the areas.I've been saying for many years now that what $60,000 - $80,000 buys in Toledo which is a SOLID B CLASS area and property, would buy a C or D class in any other city.A few questions about how your operation works:1) Do you work as a buyers agent for out of state investors and get them to buy of the MLS?

Evicted tenants will move to the next C or B Class property down the street.

.), and your DP is minimal...then yeah--200-300 cashflow might be OK (but, you'll need to run your CoC numbers to know for sure).But if the property is C or D class, in a C or D neighborhood, and the tenants will cause you endless headaches, and the property requires rehab and/or has looming capex, etc....then, no, $200-300 may not be worth the hassle.There are properties that I know would cashflow THOUSANDS per month, but I wouldn't touch them with a ten foot pole because I know that the headaches the property and tenants would produce just aren't worth the money...Also, you mentioned that you think higher rents and appreciation are in the future for this neighborhood...if your plan DEPENDS on higher rents/appreciation in the future, you're not investing, you're speculating.

But if you're getting lots of these offers, you can probably bet on getting another to transfer the remaining balance to if need be if you can't pay it off within the promotion time.

Is there a definition somewhere to help one determine whether a apartment complex is an a, b, c, or d grade property?

In Delaware, or better yet Nevada, a series could be a C or S corp for tax benefits.

First you say "Corporation" but there is more than 1 type of corporation "C" or Sub-chapter "S" Which will have different tax treatments.

That area does have lots of housing so there would be tons of other properties competing for tenants as well as lots that would be priced well below the rates for a rehabbed property.

If you are buying in low income, class c or d properties you probably want to partner with someone with experience.