BP Family - needing guidance on a potential opportunity to help my grandmother.She wants to sell her 2 bdrm + 2 ba condo in a (C+ - B-) neighborhood - (The Wingate Condominiums) in North Dallas.

The 18 homicides in that ZIP Code — which is in Northwest Jacksonville and has more black residents of any other — makes it the deadliest in the city.It was also the deadliest ZIP Code in 2017.And in 2016.It has the lowest median household income — $22,288.

. $7,588.80/$35,340.00 = 21%The median household income would be one third of the rent.The price per square foot is below average at $67 where the average is $162 according to Zillow.Zillow seems to think there is some built-in-equityThe Bad newsAs the median home value is higher than these two duplexes it wouldn't be renters first choice in an economic down turn seeing as there may be cheaper alternatives.The crime rate seems to be a little highThe schools are subparThe place was built in 1886, and is being sold as-is.... 

I put a Condominium Triplex for sale to investors only.

It fit our household and lifestyle well, I was busting butt at a new job and did not want to spend the time to find another rental.   

But you might find that a different reason 'could' lead you to the same result / conclusion.You're a ways off from this point, however - 'regular' financing terms are typically offered for homeowners on primary residence(s) and if you lock in these terms, most banks have guidelines for a maximum number of these loans they will underwrite to a single borrower (8-10 per person/household) - within this very favorable world of long term fixed (and low rate) financing. 

Yes, nothing is guaranteed but we  I was thinking that an IO allows me to buy a bigger house, hold it for 5-8 years and use the appreciation profit for the next house on a standard 30 fixed.  

In San Francisco $200,000 is not an uncommon household income.  

Bank finance will make sense for the owner occupied assets that we will go after and also the single family households.

Every landlord/condominium management should be mindful that tenants are still people!