I have a list of questions that I have put together form books, forums, podcasts, etc for 3 key players on any team. 

Similar to apartments, there's a mid-range that the big players skip over. 

Also call up the local multifamily brokers and find out who the players are in your market.

@Nathan Ku  Which class c/d neighborhoods specifically? 

They don't give small time weed dealers and smokers a hard time, and instead focus on targeted harassment of big players in drugs and violence.

In the space between there is player or soft concrete.

We normally love buying within a few blocks of our houses, to control the area.. but we look for C/D+ areas, whereas you go for the D-!   

I'd encourage you to think about a preferred equity structure and distributions instead of cash on cash returns.  6-8% preferred returns are pretty common for most project types that use private equity structures to capitalizeA very fair structure if you learn to message it well and have quality marketing systems is:Preferred return to A/B (cash, property) shareholders where they're pari passuMatch to C/D (compensatory, promoter) shareholdersSome split that will probably range from 50/50 to 70/30 (investor/sponsor)Dial to fetch what the market says you need to attract private capital for your investment type and perceived risk that spans horse risk and jockey risk.  

So you have a loaded field of players with very large chances stacked against them.If I take 100 people with $20,000 in capital who want to start investing in real estate I'm guess the ratio is going to be higher than 5%.

On top of that like you said use a crime map to understand that for example you may be able to crush your $$ goals in lets say Kensington, but youll be in a C/D location and will have to deal with everything good and bad that goes along with that.