Those aren't good deals to me for a long term buy and hold investor because those properties in distressed neighborhoods no matter how nicely you fix them up are not going to rent to anyone other than a 'distressed' human being, and they bring you all their baggage and all their headaches of managing them.As a long term investor I want a property in a stable, strong, neighborhood that I would live in.

I have very good credit, a stable job, and a lot of determination, and I'm primarily interested in buying and selling at first.I'm an experienced construction professional, and a recent resident of AZ. 

This deal is good and will not last long, 12.5% Cap Rate is very good for any deal, add the option for owner financing and the fact most of the units are already rented out with stable tenants just makes the deal that much better.

It felt rowdy and adventurous, but also stable and smart, and the trips there were certainly the best perk.

Regardless you need a stable income to qualify for anything 

Let's say you buy a $ 500,000 property and put 20% down, so you are borrowing $ 400,000 on a property that we will assume was in a stable market and really worth the purchase price you paid when you bought it.  

Rougher areas tenants turn over a lot so length of time being stable will be an accomplishment for sure.

I assume by "turnkey project" you are referring to a turnkey investment property.Ever since I started investing out-of-state myself, and then founded my firm in late 2003, people have defined "turnkey" differently over the years.To me and my company, "Turnkey" investment property is defined as follows: The property is in a stable or growth market.The property is in a desirable neighborhood.The property is new or has been newly renovated.The property is cash-flow positive even if fully leveraged.The property is leased, or in the process of being leased.The property is under professional property management.The property has been carefully selected with renters in mind.I have posted and occasionally updated this definition on the About Us page on our website.Your "hands free" strategy to real estate investing is very similar to how I viewed out-of-state investing over 11 years ago when I started.  

No evictions, credit good, and good background.The stable income is there, but I have heard that there are some tricky instances in leasing to veterans.

It is class B+, the existing tenants are very stable and medically oriented.