This is for the brave, but if you can rehab to class C or B, you can make out like a bandit--but the big capex expenses will kill you. 

Unfortunately, most are in what I consider C- or D neighborhoods.

I'm not one to bet on it yet.

After summer if you rent it 5-8 days a month until next season you will be lucky.There will be tone of competition after the summer, so I would not rely on it, look at it as bonus if it happens, but make your calculation as if no action happening.

The units needed  quite a bit of work, class C- or some might say D.  

Looking to either HELOC or COR on a duplex I have to get some cash to use as a down payment for another investment property.

Plus keep in mind, if this is your first time out, they will want to cover their bet on you.

@Basit Siddiqi many people on here have STR, or claim themselves as self employed investors, or expense on a schedule C, or they have LLC/SCorp etc.

Some investors make their living in similar areas (Class C or D type areas).

They're also critical if you're managing in C or D class properties where self-management may be a risk to your life and safety or severely restricting time you would otherwise be using for expanding your portfolio because you have money to burn and a portfolio size you're chasing.