There's always an element of risk here but keep gathering information to make the best informed decision you can. 

And then the younger single military member that usually wants to bunk up with some friends to reduce the cost of rent since BAH isn't that much for lower ranks, which care more about entertainment and big bedrooms for everyone.

Appraising has a subjective element to it which is a down side.

I too have put together a map using data from the annual Census to generate the grades (A to F) If we look at the same geographies but with rent to price ratios, it's clear that lower ranked areas tend to produce higher yields (on paper at least) Grades MapRent to Price Ratio MapLinear Regression model comparing raw grades (0 to 1) and rent to price ratios.

Ross Hulman is the #1 engeneering school of somekind of ranking each year ect. and most of all you can see the hipsters microbrew and coffee shops popping up.

So if your properties are sound you just just ride it out.Upside..when the market ranks a little good deals are more prevalent.

On some level it means that there are some passive elements to the investment.  

People care about their homes and their yards and tend to be vigilant in keeping rougher elements out. 

I'll explain why:There's 4 elements to successful investment in commercial multifamily:1.

ONE THING: Yes, you may not have to worry about CapEx right in the beginning but if you plan to stay in the REI business, CapEx is an ongoing element.