A front tenant who is a major pain in the ***, has no money, probably isn't even going to move out when she's supposed to, and has bed bugs.

They are experiencing major development including breweries, trendy restaurants, and building the new soccer stadium.

For the locals in the area that might be able to help pinpoint areas of focus here --- think if you were an established hard working professional (not CEO or independently wealthy)  working at for example -- Redstone Arsenal, NASA, Military, one of the Universities or major Hospitals, the airport, a local lawyer, dentist, fireman, police, teacher, business manager, small business owner, corporate executive, etc, etc..  

When the market does start to finally appreciate again, the majority of your appreciation will only be a recuperation of your losses.

I like to watch if they truly scrutinize the place based on their needs or if they are ready to move in that weekend without barely looking at it (major red flag). 

Biggest piece of advice I can give is don't overpay and avoid any major rehabs just starting out.

I often break it down into the "five pillars" of protecting your assets.The first pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments - these simple steps will help you prevent lawsuits before they even occur.The second pillar is a good insurance policy as that cover the majority of your exposure.

I can think of 5 major new construction projects off the top of my head.  

I would consider starting with a duplex in major need of a rehab and house hacking it. 

I often break it down into the "five pillars" of protecting your assets.The first pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments - these simple steps will help you prevent lawsuits before they even occur.The second pillar is a good insurance policy as that cover the majority of your exposure.