@Jay Fayz for SFR (1-4 family) Classifications are mostly opinion-based.Not aware of anyone tracking eviction rates, except Evictions Lab nonprofit that doesn't like landlords.Here's some info that might helpt:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

At CA tax rates it doesn't take much to be a significant number!  

THe lender is a credit union and it is a conventional low rate loan.

I offered them 10% down, interest rates favorable to me, amortized for 30 years, but with a balloon payment after 3-5 years.

my experience has been (1) I can obtain the same rental rate for a 6 month lease that I can for a 60 day “stay” if FULLY furnished (2) some of these 6 month rental turn into 2 years or more.  

Some don't like the idea of a 2nd position lien that is very small and very high on interest rate. 

Note if you go over 4 units, your valuation will be based on NOI and comp rate.  

It's an estimated cash on cash return given current rental rates subtract expenses assuming 7% interest rate, 10% management fee, 5% repairs, 5% capex and other expenses like mortgage, insurance, tax. it's a estimate to tell you what properties to analyze vs ignoreyou can see the are pockets of negative returns as well as pockets of positive return. this is to supplement the data @Devin Conley provided

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If everything works out and you are dealing with a legit company this could be a great long term tenant paying above market rates.