Building is in a B class Chicago neighborhood where street parking is available

I like single family class A/B homes because the tenants tend to be better and longer term, and the rental market in our area for this type is strong with many large companies and urban centers nearby.

We will see....I feel so ready to take on (small) new challenges like flipping....But I wanted to start small, meaning a B ish SFH...

In searching for properties, a good rule of thumb is buying property you can add value to (renovation, improve prop mgt) and buying B/C value add apts in A/B areas respectively.  

This would make replacing your supply side - and waste water - a little less painful.As Joel Owens indicated, I would plan on the main being galvanized steel to the street (the City/Municipal water & sewer department may be able to confirm) and price accordingly.I would also verify it the waste lines are cast iron (or something else like copper) within the building (or have they been replaced with PVC/ABS over the years) and whether the sewer main is cast iron, or clay, to the street.

and these guys bought it out of foreclosure for $165K in 2011 - although they did a gut renovation and resisted.I have read the police reports, the city planning docs, and overall, to the untrained eye - this is a C/D area moving to a B/C area.

In your case where the title company said no due to underwriting guidelines, I would challenge that and speak to them as JScott recommended.I have a closing today where the title company said that they have to disclose both AB and BC HUDs to BOTH lenders (shortsale lender and C lender).

I am new to investing and was looking to house hack my first property in Calgary, AB in the spring time.

A/B neighborhoods.

Say a true 8-9 CAP(i.e real vacancy, capex, maintenance and management) in a b neighborhood?