Which neighborhoods are better to buy and rent? 

That said, its been an establishment in the neighborhood for 4 yrs and now neighbors question what will move in next.  

Building Details:- 2 on bottom 2 on top - 3/1.5 ba 1100sqft - 7 yr roof - prob $35k - 50k total work/updates to make awesome.- Neighborhood ~ C- but a C- area here doesn't mean too much, smallish town ~ only about 50k peoplePurchase Price: $660,000Appraised Value at Purchase: $730,000Interest Rate: 6.625% - 30 year fixedDown Payment: 10% / $66,000Cost to Make Rent Ready: $14,000P&I - $3803 T&I - $898Total PITI - $4701/moCapEx, Vacancy, Maintenance - $1099/moTotal Monthly Costs - $5800/moCurrent Rents - $3800 (3 units)Fair Rents ~ $5000 but will likely only charge ~ $4500 to start.

My aim is to build a climate controlled facility at one of these identified locations - about 250-300 units. 

You have to have a building permit in before you can start running utilities.

Other than that, with only one meter, the owner will have to pay for both houses and build that into the rent. 

Is it that there is huge inventory of newer buildings like over at Harbor Point etc, or Stamford is not a desirable area for people to rent?

Goal is to slowly build up your real estate empire and live off with the passive incomes.

Downsides are that he gets none of the potential upside when the property may be sold down the line, and we have to find a way to ensure that we build enough equity in the property to do a cash-out refinance when the loan term ends to pay it off. 

I am looking for a property in a good but relatively affordable neighborhoods like Crown Points.