Odds are, this is a D-class neighborhood with D-class renters that just can't find anything else this cheap.

Cook County, Illinois has one of the highest application rates I could find, using about 20% of the available funds.Why aren't more people applying?

C-class building that has a laundry facility that earns some income.

One class of renter that's really getting squeezed is the graduate/professional - there's lots of undergraduate housing, but in Radford in particular there's not a great deal of quality properties for folks like the graduate/professional.

The classes are good, but what helped the most was practice tests and Youtube videos on CA exam questions. 

Location: Blue collar C class property. 

But neither the glass attraction nor high-altitude yoga classes apparently were enough to bring in the masses.

If you are wanting to continue renting in the same class, you'll be paying inflated rates and won't see any gain.

This is actually a very interesting question in your numbers as I can tell you that this purchase price point range fits into some Class A and Class B areas in landlord friendly Indiana, specifically some areas outside of the usual investor go to of Marion County and into that of Hamilton County. 

@Tim Lee - A few names to lookup:- Peter Fortunato- John Schaub- Gary Johnston- Dyches Boddiford- Bill Tan- Dawn Rickabaugh- Bill Cook- Tracy Z- Jimmy Napier (he passed away, but his book "Invest In Debt" is out there if you search for it)- Mike Cantu- David TilneyMany teaching creative finance today, learned from those listed above, or from someone who learned from those above (and some of the above learned from Jack Miller who you can also lookup).