2) Focusing on Cashflow vs Appreciation: recipe to buy Class D properties that may take a generation to increase in value. - What type of tenant do you think will live in a Class D property?

It would leave your net worth really skewed into one asset and class of asset. 

I believe that those who buy multifamily in late 2025 and early 2026 have a chance at amazing returns relative to most other asset classes over the back half of the 2020s. 

Class of 2000 here, and take a look at the basketball schedule with the Aggie top 15 basket ball team.  

Maybe the 600K property area goes from an A to B class area, while the 300K goes from C to B class? 

What is the class of tenant?

Quote from @Levi Perl: Have a class C property. 

Remove those and the Net S8 Rent will be market rent.Typically, the only way to get more than market rent is by buying in Class D areas and hoping a S8 tenant will live there instead of a Class C area.Keep in Mind: TENANTS QUALIFY FOR SECTION 8 FOR A REASON!

You should teach a class on "How to Lease a Property". 

Much like a mailed check/money order is "paid" when it is post marked as it isn't the tenant fault if 1st class mail takes 3 weeks (which actually happens sometimes!).