Doesn't cause trouble for the neighbors, with the city or the police. 

At this time I would Sell two of my rental houses in order to Buy my friends two houses, on the lot next door, in a bad neighborhood, because I can get them for $30K under Retail, after a new roof and electric.

There are a few "loopholes" if you will...1) The association approving the lease could be considered a form a discrimination or "first right of refusal" which in some states/cities is against the law, regardless of what the CC&Rs say for the Association.

Everyone there stuck around for the last property, which was a 1900 sq ft  home, built in 2004, assessed at $210k in a nice neighborhood, at auction due to unpaid HOA fees.  

Also, from what I have gathered (which I may be wrong), the better cash flowing properties seem to be in the less desirable neighborhoods here.

Hi Parker,Welcome to the Tampa Investment market (#2 city in the country for investing in real estate actually).

Also, are there any back taxes on the property you would have to pay for, any backed up bills that are due to the city/utility companies?

This is the quickest and best way to get started with the least cost.First pick a neighborhood that you are either in or close to.

My goal is to develop beautiful, affordable, sustainable houses in B neighborhoods.  

In both investment adventures, there are pros and cons, but not really knowing where to start, I was hoping to get some advice or find someone local in the area to meet up with and get more information.My husband and I currently own 3 rental properties – a row home in Baltimore City, MD a single-family home in Baltimore County, MD and a condo in Ashburn, VA.