Look for people that have owned for over 10 years, and get it from them off market even at a deep discount and do the work of fixing it up and renting it for higher, or if you want to buy on market I'd definitely recommend offering below asking, as most multifamily that hits the market in these areas are tremendously over priced. 

I'm very intrigued by a property that is in a great neighborhood and will appreciate very strongly, but using any sort of financing on it the cash flow return is deep in the negatives for a couple years even though the ask price looks like a good deal compared to other houses around.

Keep in mind, when you get ready to sell houses in low-income, el cheapo areas, your only buyer will be another investors who will want a deep discount. 

The town of Camp Nelson is in Tulare County which is a “red” county in a deep blue state that is favorable towards landlord and STR rights.

Maybe paint all the doors a deep grey or black for example, and the uppers white, then match all the hardware.  

But, as we enter into a down cycle (we just don’t know how bad it will be yet) “experienced” and inexperienced people who have done Creative Finance Deals can find themselves underwater and missing payments and in deep trouble with the law.

Syndications are only suitable to players who have experience with deep due diligence, basic understanding of fraud prevention/detection techniques and enough real estate experience to understand the market, macro economy and how those factors will impact the investment. 

@Chris Boyd, no deep analysis needed IMO.

I will look at all of these and take some deep dives.

In a climatic health resort area deep in the Bavarian Forest, where the air is clean, there is plenty of nature and real estate is affordable.