@Jack C. while this might be true in Las Vegas, not every property sells "close to list price" if its on the market long enough. 

C class deals are selling on 7 caps and some times less.

A "C" class neighborhood with low rent may have higher turnover than a new area with top of market rents.You will always have Maintenance cost.  

Not having a specific criterion (ex asset class(SFH or small MF), A, B, C, D (neighborhood), "general area," turnkey or rehab) does haunt me.

A/B/C?

I've been looking around at properties in WPB but, they are in C and D neighborhoods like Rudy said.  

C.

The reason you have such crazy tenant laws is because the high demand...I'd much rather be dealing w this crazy government interference that generates WAY more media coverage than real impact to either side of tenant or landlord.....Than C class tenant...Trust me when I say I have got the best tenant experience in San Francisco, for 10 years....

There are A, B, C, & D neighborhoods everywhere.

I think this is where it's going to go b/c of the L train shutting down in 2019....