However, having never been there myself, I'm hoping that some local folks would be willing to help me determine what class of neighborhood it is.

I'm looking for B/C class property and multifamily in particular.

Check on Loopnet in your area to see if the price is inline with what others are asking for the same class, per foot, NNN or not, etc.It's definitely harder than a SFR but doable.Send off an email blast to 5-10 long time commercial agents/brokers in the area and ask their opinion on what it should rent for and see if several of them key in on the same close range.

I live in NJ and have been taking real estate classes.

That being said, it could make more sense to you to buy for low to moderate cash flow but strong appreciation, versus the other way around.If you want buy and hold rentals, I’m hoping your idea isn’t to tie up all your cash in ONE property, but rather to get your own traditional investment loan or creative financing from sellers.Another consideration is many speculate we could be nearing the top of a real estate market cycle, with a dip in home values expected when you could pick up some better deals.

Franks, I'd love to buy you a coffee some time and pick your brain for just a few minutes!  

How did you pick the strategy that works for you? 

I was really torn between several rental properties, and Max did a great job of laying out the pros and cons of each and guiding me to my final pick.

Building is Class B and tenants are 20-30s working crowd.

You could also focus on the great financial advantages of renting/down-sizing (travel more, no more yard to care for/repairs, buy an RV, visit family more)Host a senior-focused event at your facility (maybe show an uncut version of Woodstock haha) or live music, a Social Security expert speaker or Doctor to address health issues, a fund-raiser, art show, etc. and hand out flyers with a special "one month free" coupon attached Have exercise classes for seniorsWeekly bingo nightsPromote your events for free on community calendars, newspapers, seniors sections of papersPrint door hangers and get some kids to hang the door hangers at trailer parks, older communitiesEncourage your current tenants to invite friendsRent a 15-passenger bus ($50) and offer free transportation to key eventsSponsor events at senior centers in the areaCo-Sponsor service club (Rotary, Kiwanis, etc who have many senior members) eventsPut up banners and balloons when you have eventsI hope at least a few of those ideas might spark some interest.