For example, if I sold 1/2 the balance of the note, the yield DOUBLES to ~20% on a 10% face rate note for the note buyer (unless of course I'm the note buyer, then it's okay :-)Pardon my french, but I will be a son of a b*tch before I pay a totally passive note investor that rate of return in this low interest rate enviroment. 

If the neighborhood goes from a B to a C do the tenants stay there and continue to pay me market rent for a B property?

I bought at 140k a door  in a B- area and B building,  and am in escrow for another building at $100k a door in a B- area/  C-B- building [it's TBD since in DD period]

Mine however are single units, and they are all A/B class with high income tenants. 

To further this topic, do you use the 2.5x and 3x as blanket criteria for C and B class neighborhoods or do you also consider sub-communities (e.g a nicer complex in a C area or a more run down in a B area)?

I got a lawyer abs that ended up nowhere.

We decided against this, since 150k is generally enough for a solid home in a B/B+ neighborhood in Northeast Ohio.We are now in contract for a duplex in the Old Brooklyn neighborhood of Cleveland.

I am a BS student.

Obviously this doesn't make the 70% rule...Built in 2006, 1200 sq. ft. in a B- neighborhood.  

They may have leads to A/B neighborhoods yet you get a deal and they are investor friendly.