I think it is different if you live there, speak the language, know the market.  

Class A properties are going to cost you more, have lower cash flow, yet be more attractive to a higher quality tenant base.

As far as Lance Kawaoka's claim that the reason there wasn't much response to a post about checking on the quality of a large, well-known, super-markety sponsor is that members wouldn't want to declare that they are a high net worth individual just doesn't hold water.

I cant speak for every deal they have ever done, but I will say that any deals That I was involved in with safeguard and there was any issue whatsoever they jumped in and worked diligently to solve the issue as if it was there own money. 

@Travis Boyd The quality of the neighborhood will affect the cap rate to be used.

Apparently there are significant differences in tenant "quality" from one street to the next.

Here's a https://www.irs.gov/businesses/cost-segregation-audit-technique-guide-chapter-4-principal-elements-of-a-quality-cost-segregation-study-and-report to the IRS website noting specific items that are included in the cost segregation study report. hmm, that website is a 404 error.  

Those qualities can be the difference between closing a deal and walking away empty-handed.What about you?

Ask to speak with some of their current owners and current/former tenants.

I think it speaks volumes regarding your care to the situation the heir is involved in.