Agreed, I have some rentals in a B area and have friends with them in C areas and its night and day (talking 2-3 miles difference here in locations) in amount of applicants and quality of tenants. 

@Mark WalkerCap rates vary by asset class (A, B, C, D), condition, and vintage of the asset and the market, to name a few things. 

Do you and your partner have the same idea about what a B class area or a C class area looks like?

I am left with 2 ABS Loans, Tenant occupied property that is now in foreclosure, because since November of last year I was trying to refinance, but the loan officer I was working with made me believe that he can refinance at least one of them, resulted in a failure to get approved. 

Greatly appreciate your input.thanks,AB

One guy left his nail gun in the alley and it walked off, but I've seen that happen in A-B neighborhoods too.

A/B/C/D class areas? 

Defining the class of the neighborhoods is the tough one to start that grade C out for...I have some clients unused to the mid-west who are used to high-end suburbs who consider our better areas a B- area.Personally, I classify the C- anything I verify I have easy access to my spare magazine before I enter a vacant property.

I don't get as bogged down with numbers as I probably should be in today's market.I look to buy quality properties (A/B class) in areas that are growing and likely to appreciate.

Best wishes, AB