This could work if you A) grew up in that area and understood the culture B) Had multiple and again able to spread the costs/problems...

You have to be the type of person that will collect/evict as needed, you need to be the type that is either able to do work yourself for turnover or have a existing relationship with a crew, and you need to understand the culture of the neighborhood.I don't have any of that, so I don't buy that type of assets... and from the sounds of it like you I rather a higher class asset with different tenants.

In announcing plans for the center earlier this year, they described the new operation’s objectives this way: “Modernizes the Army for the future… will integrate the future operational environment, threat and technologies to develop and deliver future force requirements, designing future force organizations, and delivering materiel capabilities.”The Futures Command center is expected to lead innovation for the Army’s top six modernization projects, including improvement to its tactical missile system, combat vehicles and helicopters, defense teams and weapons.Army officials indicated they were seeking a high-tech, creative culture for the location, rather than a traditionally structured Army post.

Not to say each brokerage doesn’t have its own culture but do you want to be the newest agent in a building full of agents who all focus on investors or do you want to be the agent doing something  mostly different from the rest by getting your BiggerPockets PhD and being the innovator of your brokerage.All that aside, check out meet ups and meet people in your area that are doing what you want to do.

It didn't cost much at all compared to the above.A little bit off topic, but Westwood is interesting as well because they are trying to convert Morrison road, the road that cuts diagonally through the neighborhood into a cultural district.

With the amazing shortage of skilled tradesmen and labor in our country (it’s getting worse every day,) the only way is to change the job and culture of the job completely.

Even with all of that, I watch what the Chinese economy is doing and I watch Fed Interest rates and the Russell 3000.

There are trainloads of Japanese, Chinese, Middle East and Russian money finding its way into the US RE market, and that has a domino effect - global money tends towards the elite locations - SF, NYC, etc - and that pushes some of that money inland, and so on.

I used to have a ton of Chinese buyers who believe in certain "lucky" numbers, and who am I to tell them what to offer?? 

Amongst friends and living in a community with more personal space, diverse economy, access to travel (roads / airports) and strong local culture (food / entertainment / socialization).