driveways in my neighborhood, which is something that never happens here!  

For example a property in a rougher area of town that rents for $600/month versus a SF home in a quiet suburban neighborhood that rents for $1450/month. 

Preferred Neighborhoods: Dogtown, North Hampton, South Hampton, The Hill, Tower Grove South, Benton Park, Richmond Heights, ect.

I came across a vacant property in my neighborhood.

Great neighborhood - I grew up over there and have a few rentals around Hurst. 

What’s a good way to see if a neighborhood is appreciating in value?  

It is good to run the numbers, but the most important thing is to know the location you are looking at and what sales prices and rents the neighborhood can support.The price for this place is $272k and that is the short sale price, i have spoken to the agent and that is the best they can do.Rents are likely between $1200-$1300 per floor, no real need to improve the units as the neighborhood is unlikely to support higher rents at this time. 

Are they typically A, B or C neighborhoods and how close to the market/asking price do you have to go to secure the deal?

It's January in Chicago and we're trying to rent out a 2 bedroom, 1 bath located in the Logan Square/Avondale neighborhood.

Purchase price: $55,000 Basic 3/2 SFR in a mature, entry-level neighborhood What made you interested in investing in this type of deal?