@Abhi Jain, apologies as Im not knowledgeable enough on the Torrance market myself but my parents have had one SFR as an investment property there, in a B/C class area.

So I just got an executed contract, with 10 day inspection of course.Sarasota, FL - I'd say a B neighborhood a few blocks from Riverview HS...This is long distance as I live in NYC...$220k2 lots next to each other, each are .56 acres. 1 lot has 95 year old house about 1500sf living area, no garage, PLUS an efficiency unit, lol, 400sf.

Curious if anyone has thoughts on RI towns for buy-and-hold investing, and targeting A, B, C, D type properties?

@Robert Steele I'm very interested in if you have received an answer on this question, I have a new building where all of the leases expire in June (one tenant has been here for 2 years, the others for less than a year) and I'm debating if I should just keep all of them month-to-month after that point to be safe, then once the ban is lifted, and if they have a good track record maybe revert back to annual renewals to give them some peace of mind on rent/living situation (This is a B-/C+ area)? 

At some point hard data becomes a BS check.  

@Donna MaynesI have been training REIs in terms deals since 1999You need tools and strategies for1 Low equity pretty homes A B areas 2 free and clear pretty homes A B areas 3 messy dirty stinky rentals CD areas

Neighborhood: I am open to A+/A-/B+/B- neighborhoods.

I live in San Diego and it's crazy expensive here so have to look out of state for my first investment property (already own a house in SD).I'm specifically thinking 3/2 SFH in a B class neighborhood would be the ideal scenario to get stable tenants and good cash flow, primarily in the Midwest.

-Should I wait to qualify for a mortgage and purchase a B to A grade property in a desirable area?

. $40k would still get a newer construction SFH (little to no CapEx for a bit), cashflowing place in a B neighborhood in Raleigh, NC, for instance.