Also, if you're talking about a B- to C+ area I'm not sure where you're charging 1500 for a 3 bed and 1000 for a 2 bed.

I would consider Bexley an A/B+ area and Whitehall to be a C/D area. 

My criteria is ~$100k SFH in a B-/C+ class area that will cash flow ~$250-350 after operational expenses, taxes, debt service, and property management with Cap Rate ~9% and CoC ROI 15-20%.

This is a case study of a project in Calgary, AB, Canada's fourth most populous city, (1.25 million), where the market is based on appreciation and not cash flow, and by any metric, real estate is highly overvalued.  

@David Edwards I have a B unit in a B neighborhood. 

This looks to be a B area after all, which means either the rent is too low or the prices in this area are all out of sync with the quality of the properties.

And it takes time to generate a B/C apartment complex :)4) There are LOTS of people chasing B/C apartment deals and bidding the prices way up. 5) I try to stay away from deals just breaking even on current numbers and banking on a big rent increase from interior renovations.

IMO, The price to rent ratios are going to beat any other A/B+ neighborhood in Philly.

I have a long way to go, but the only place to start is with house #1.Here are the specs for the current home I am offering on: 4 br, 2 ba SFH - relatively turn key, requires minor updates ($2k - $3k)I would consider this a B- property.  

(Or at a minimum, c class you can turn into a b)  It just depends on your market, and more importantly how good you are at finding good deals!