We are concentrated in the near northwest side of OKC proper so a slightly different applicant pool than you’ll see in a Class B neighborhood. 

Also, you will hold a property for many years and during that time you will need multiple reliable tenants.Getting and keeping a reliable tenant in your property is dependent on two things.A property that matches the housing requirements of a tenant segment with a high concentration of reliable tenants.

If anyone with more experience in this area could give me a handful of neighborhoods on which I should concentrate, that would be very helpful. 

I would concentrate on educating yourself in Real Estate to prepare yourself for the next big opportunities when the next downturn comes. 

Baltimore City is a little rough in the sense of the number of abandoned buildings but I know of a couple of neighborhoods where Investors are concentrating. 

Download the Free book here on Bigger Pockets- (a wealth of information) Find out what area of concentration you're most interested in.

I realize they have concentration risk concerns and such, but I was wondering if anyone has a good solution for this so that we can focus our effort more on projects, raising equity, business development, etc. and less on finding a new debt source for each project.

Unless you have plenty of spare time, which it doesn't sound like, I would suggest you continue to invest your time in school and get your degree, so you have a credible way of establishing yourself in the work place.Once, you complete your degree and are employed, concentrate on paying off any student loan debt if you have any - if you don't have any - your on the way! 

Key though is to concentrate on the following:1. 

.- Your investment is concentrated in a property, while you can buy futures over an index and the risk is distributed among the stocks that compose the index.- Usually there is leverage associated to real estate purchases and leverage increases risk.- People tend to feel overconfident about real estate even if they dont know what they are doing.