I commented in another website about asking a couple of friends of mine that through the day are working in neighborhoods to let me know if they see any vacant or distressed properties.

I was intrigued by the topic of "opportunity zones" discussed on the BP Podcast episode 269 (the one about RE & taxes).As I understand it, it seems almost like a "1031 exchange" type of investment vehicle but rather than property<>property, you could use other equity assets like stocks or mutual funds to invest in designated opportunity zones in low income neighborhoods via opportunity zone funds.

My plan, detailed below, was to purchase houses in good neighborhoods/schools etc. at below our means that was around an E6/7/O3 BAH rate and then rent it out for the long term for either when we moved back, or appreciation over the years. 

The answer to your "fully occupied" question likely depends largely on the Owner-Occupier vs Investor market in that particular neighborhood (eg. desirability of school district).

For the first question, homes in the neighborhood are going for about 8-10k more with the finished room then not.

While doing research on the Tucson market, I realized that a specific neighborhood was going to start appreciating rapidly; Barrio Hollywood.

It is in an "A" neighborhood, and anticipate my current neighbors won't be thrilled. 

I contacted a police officer I happened to know, and he came to a meeting of our Neighborhood Watch group held at my house, and consequently saw the activity for himself.

They may have limits on the number of rental properties and often are militant about neighborhood rules.The "little" HOAs don't scare me at all. 

In NYC, cap rates are hyper local and vary from under 2% in high end Manhattan neighborhoods, to about 5.5% in parts of the boroughs.