Alot depends on portfolio size, asset class (A,B,C,D), subsidized or market rate, mfam vs single fam (sometimes that doesn't matter), etc.  

Even here just in Chicago tons of contractors have no clue how to get work done in c/d areas and vice-versa a/b areas, just one or the other.

The apartment complex is a C/C- complex, in a B / B+ neighborhood.

Neighborhood is a B-, C+.

(By the way, your flip seems like a deal to me).I don't have that level of access (or time), and want income-producing properties for strong capital growth (like yourself).So I have been looking in my work area (Western Missouri), and the deals are there in Class C neighborhoods, but I'm having a hard time finding the Class C properties in the Class A/B neighborhoods (have not found a deal better than 0.9-1% for a multifamily in those neighborhoods, and the few 2+% in the class C neighborhoods, can't yet tell if they are war zones).

This deterred me from purchasing the unit and had changed my opinion on Condos as rental property, but I still feel there is potential for these types of rental properties.I have been eyeing a few up and have reached out to an agent with some listings of foreclosed condos in Edmonton, AB, Canada.

Your end buyer's money is used to fund the A-B transaction, so that you don't have to bring any money to the closing table.

Adrian, this is how we do it, and I do think every investor here does it differently and it will also depend on the state laws for your MLS.The Realtor represents the seller in the A-B transaction, but we're doing most of the work.

it would be a B/C property btw...

I assume it is a relative of the tenants, but it is an eyesore as I would consider this a B class property and I want nothing to do with a possible vagrant and a pitbull.