We also have pockets of great affluence and great poverty that often butt up against each (ie...Woodbridge/New Haven) through our little State.Great poverty usually translates to lessor quality school systems which in turn drives people with the means move to the more affluent areas in the burbs to put their kids in the better school systems thus keeping up or driving up the prices in burbs while flat lining the prices in the less affluent areas, the cities.

While very few rule of thumb guidelines apply everywhere it has been my experience that the high quality more expensive properties in nicer neighborhoods cash flow less but are easier to manage and appreciate in value better.

At a minimum, it should be a 5 year view, and then the investor will have a better long-term perspective, and the seller will not look like he misled them.I feel that 10% - 20% of your rental portfolio (depending in its quality and management) will be performing sub-par at any point in time.

My dream if you will is to one day establish a quality housing development to support soldiers and their families near military installations across the US.

I consider these A areas so there is a trade off with cash flow for higher quality tenants and a higher rent amount.

Quality of work?

I am putting in new light fixtures and replacing some trim, that with a show quality cleaning and I think it will be ready.Just a note on your project be sure and check out your contractors.  

Tell them you don't need an automatic MLS search, you already have that, but if they want to send you individual listings, you will definitely take a look, and with them, you can be very specific about what areas or what qualities you want.Good luck, and I will be interested to hear what happens.

Before we started in CdA  we researched Boise as well and decided on Coeur d'Alene.Prices compared to California are very cheap usually about 40% for equal quality homes.  

It sounds as if you did  much of the work yourself without knowledge of the products you were installing,  Installing something, while the process may be very easy, doesn't mean you know all that is necessary to complete a quality job.