OOS people in your area and mine quickly realize the deck is stacked against them for picking places in passable neighborhoods and carrying out long-distance rehabs.If small multifamily is what you want, you can keep looking for your unicorns, or you can figure out a different business strategy.

Primarily Lower crime areas with decent demand for rentals, ideally C+ and above neighborhoods. 

There are a lot of multi-families there, depending on the kind of neighborhood you're willing to live in.

Probably a C+ neighborhood.

The situation is particularly bad in the city’s Northwest Core (Portland, Russell, Shawnee) and West Core (the remaining west Louisville neighborhoods), where more than half of all families earn 50 percent of the area median income (AMI), which is $71,500 for a family of four.According to the study, Louisville is more than 31,000 units (apartments, houses or other living quarters) short of being able to house all its low-income households.Part of this is due to the section 8 audit.

And the places that tend to not be as friendly are ones that have traditionally been residential neighborhoods.

Fayetteville also experienced flooding in 2016 after/during Hurricane Matthew.46 Fayetteville Neighborhoods At Risk Of FloodingDefinitely check to see if this property is in a flood zone.Here is an interactive flood zone map. 

They are in rare form this year, really trying to screw residents out of every last penny they can.They are using comps from early 2018 even though their own rules say the effective date is Jan 1st 2019.I showed them comps from November through January of bigger houses (+400-600 sq. ft.) in my neighborhood selling for less ($20-$30K).

But, rents in these neighborhoods don't really surpass 1500.  

Perry South is not a great neighborhood.