This first one has NOT been easy and we have been under contract for nearly 2 months now, but I am committed to make it work because I think it is a good first deal.I am under contract for an off-market 4bd2ba 1800sqft property in a desirable location of my city (SLC, UT) for 400K that needs some TLC but is livable.

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-Previously mentioned but what drives desirability on tenants end are high ceilings, loading docks, yards, access/location, sprinklered buildings.

Condition and age of property--Don't want a high maintenance property with a bunch of CapEx around the corner.Marketability--Will it be a desirable rental for quality tenants?

But these are pretty desirable places to live. 

Located in a very desirable part of town, the rents are $995.00 and the tenant is the Director of Nursing at a local hospital.

You will need a car to go buy just about anything you need which reduces the desirability of living in a high rise in my opinion. 

This might not make any sense, but the desire for that neighborhood to come around is far greater than the amount of money actually flowing into the neighborhood. 

What affects an area to be more desirable to be rented or not?