I personally wouldn't classify Franklin as "up and coming", but there are still people that live there, so you might find a good investment.  

We purchased a condo which is classified as a condotel in the Pigeon Forge area in February.

Good afternoon BP,How do I go about classifying a neighborhood?

Grab your local adjudicated newspaper, look in classifieds and then under the heading legal notices.Petition for probate, probate of heir-ship, etc, is the classified heading you'll be looking for.

Here are the details:Where: Toledo, OH (near University of Toledo)Rent Class: I would classify it as a C- to D+ areaSize: 8832 Sq FtYear Built: 1968Rents at 100% Occupancy: $58,500 (7 1BRs at $375/month and 5 2 BRs at $450/month).2017 Rents: $57,4162017 Gas Exp: $6034 (Boiler heating, paid my landlord)2017 Electric: $1486 (For hallways/common area)2017 Water: $4374 (Not sub-metered, paid by landlord)2017 Trash: $16002017 Real Estate Taxes: $59002018 Insurance : $2600Other Info:- The University now requires 2nd year students to live on campus (previous just Freshmen did) so this has pushed down student rents for the area.

If your goal is to gain a part time job the classifieds are far easier.

The question was - how do we classify the asset?

I just became aware of the new rental disclosure requirement which requires landlords to have all tenants sign a statement that only 3 unrelated singles are living at the property and Provo now classifying zoning violations as a misdemeanor.

(This one is likely to be a full gut.)In looking at financing, being classified as commercial due to 5-family, how would you go about financing the construction?

Does every insurance company classify 3 and above as commercial or just State Farm?