Its right near the train tracks that seperate the good neighborhood from the badIs the bad neighborhood enough to not buy it or is it ok because its on the fringes of a bad neighborhood?

The business model is poor, most are fringe operators, and the fact is most will NEVER make any decent about of money. 

Might check with Bank of the West they seem a  little more interested in fringe loans.  

I own one on the fringe of this so I'm familiar with the area.

It all depends on if you can find one that is on the fringe of a bad area and you think it could turn for the better depending on what you do with your building, how much of an impact it has on the immediate area and if there is any development going on.As far as financing for multi-family, I have a lender that I use for my properties that is extremely investor friendly. 

Wendy the best areas to invest in are fringe markets. 

I don't have any experience in a deal that large so I'll leave that to others.As far as the neighborhood, it's definitely on the fringe.  

I know that if I'm too eager to make money right away and purposefully or ignorantly look over things just to get to close, I'm not going to doing myself or the wholesaling community any favors by fring end buyers bad deals. 

On top of that, operating as a fringe operator is the shortcut way.

. - get a retirement pan - depreciate auto and take mileage deduction - put kids on payroll with IRA for kids - get home office deductions- if self employed, pay insurance via Scorp ( also other fringe benefits)- more