Quote from @Matthew Becker: I would consider a C a bad property.  

You’re either doing a bad job or getting desperate and taking the first tenant to fog a mirror, or both.

Back home I would make a packet for my appraiser and never had a bad appraisal due to the that I specified the value add and the Reno amount and broke it down so they saw the potential and it always worked.  

If someone weak and/or desperate comes across this program they stand to lose thousands of dollar they may very well not have and that will put them from a bad situation to an even worse situation.3.

I can make the numbers on a good property turn bad for a year or more due to the loss of rents, if they can't be recovered. 

So not bad at all.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Price point for duplex conversions are not bad with some sweat equity.

Some good, some bad. 

So, the sooner you evict the better.If you are worried about embarrassing holiday events, hire a Property Management Company and let them be the bad guys.