Is the Congress Heights changing or still an undesirable area and any ideas on how to use the property other than moving in it. 

I have an undesirable unit which is not renting.

After you have pounded the streets, talked with 50 to 100 people who are in a bad situation, you might find one who is looking to sell.

Just ground and pound networking.

Is there something that makes this lot desirable or undesirable?

Someone that pounds the pavement, knows the markets we service and can work within our realistic budget and need expectations.

And yes, back about 30 years ago, here in LI New York, people are concerned with minorities moving into the neighborhood, and telling me be careful who you sell to, not criminals, is somewhat of a code word.Finally OP was asking about problems with assigning contracts in general, and my point was the assignor has no control over the property any more, and the property can be sold to criminals, or undesirables, or minorities.

Am I being penny wise and pound foolish?

Public transportation for mid-class working people seems to be mostly undesired, making the last point not as important IMO.

Inflated ARV's could create an undesirable scenario where the homeowner unexpectedly walks away with less than 20% equity.