The Health District in my view is bounded by:I-95 to the EastDolphin Expressway to the SouthNW 14th Ave to the WestNW 20th St to the NorthProperties within these boundaries are limited/rare, so while the above is the 'actual area' I also mean the surrounding neighborhoods and streets.The area doesn't have the best reputation in terms of safety (Though there are definitely rougher areas in the city), but it does seem like it a solid rental market - with plenty of jobs nearby.It is also fairly close (Depending on traffic) to Wynwood, Downtown, and Little Havana/stadium(s) and the airport.  

The oil and gas industries do not want to loose their trained knowledgeable employees and the same applies to all the major other industries (port of houston, medical,NASA, tech and mfg).

Venting issues at all for the dryer,, make sure you get that figured out..And good luck on the renting,Adjusting 50 to 75 bucks less and getting response is better than loosing a month.Pets.. might be OK but really jack up the pet deposit or do pet rent to make up for the damages they do..

Prepare to loose.

You can stand to make the most amount of money on C class or D class, but also can loose the most amount. 

You are bound by the existing lease.  

In other words if the lease lasted 20 years at $1 per month, you are bound by that lease and terms until it expires in 20 years (extreme example).

I use this term "business" loosely because most people become "owners of a new JOB" and not a business depending on how you operate it.

With anything old, it's bound to be an onion of problems to replace, so unless it is necessary to replace it, I would not touch it.On the other hand, if everyone else in the neighborhood is updated high efficiency, then that's another story and it makes your house somewhat deficient.Not sure how you get from a $2K replacement cost to $6-10K value increase.

I know I'm loosing money on this thing, but decided that this was going to be a learning experience.