Very likely the condo project would not even be eligible for an FHA loan.

Those assumptions above may not even be entirely accurate, that's just what I've been told plus what I've deciphered from the zoning table. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

This will simply causes prices to be even higher, and continue to constrict demand... 

Even more than credit, the more experience and capital you have, the more aggressive a lender is going to be.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Even though those debts are temporary.

@Kwanza Price - Syndications are a great options and even some QOZs. 

Unfortunately, many owners don't even know what to look for!

I have a question that I'm sure I'm not the first to ask, even if I'm not sure how to ask it.