I would aim for a comfortable safety budget before starting!

But PS, I have a terrible arm and can't toss the rock.

\/O\/ I like the "clear evidence of gentrification" area you mention.Yes, it is a slow process and good things take time but stick to that pocket IMO.Buy cheap with a margin of safety, work the market since you are local and you will have a much higher rate of success than a DIY out of state investors.Just my opinion and wishing you much success

-Safety and crime rates.

I was concerned with the safety of the neighborhood, not with what my potential neighbors looked like.

You can also look into a 7/1 ARM.

The safety of our guests at BPCON is our first priority; we'll be bringing in additional security if necessary and honoring ticket refunds for anyone who doesn't feel safe traveling to Orlando.

Make sure you know the safety and quality of the neighborhood and even block in New Orleans to ensure the rents will be what you expect. 

Eg, I offered to install a couple of swings on some large oak trees in my tenants backyard but asked them to sign a hold harmless in case one if their kids fell off and broke an arm.

@Dennis Gallof In addition to the safety concerns ....Good luck trying to evict a non paying tenant in an illegal apartment.